Pitango leading startup Sagitta in $15m funding round

Production solutions startup achieved company value of $30m, TheMarker.com learned
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Israeli startup Sagitta, a which makes high productivity automation solutions to fiber optics and semiconductor manufacturers, will be completing a $15 million financing round by year-end.

Although no announcement has been made yet, Sagitta achieved a post-money company value of $30 million in this third round, TheMarker.com has learned.

The venture financing is being led by the VC fund Pitango Venture Capital. Other investors in the round include Orbotech Ventures, VC fund Tamir Fishman Ventures 2, and the optics manufacturing giant JDS Uniphase (Nasdaq:JDSU, TSE:JDU).

Sagitta president Ori Sarfaty confirmed that company was in the midst of a financing round, but declined to provide details. No comment could be obtained from Pitango.

Founded in 1995, Sagitta started raising money in 1997. The company develops, manufactures and markets automation and quality control products, including failure analysis sample preparation equipment for semiconductors, data storage heads and fiber optic components, and a new product line including sub-micro control units of communication chips for the accurate, automatic mechanic production of optic components.

These products are sold to chipmakers such as IBM Corporation (NYSE:IBM), Texas Instruments (NYSE:TXN), Motorola (NYSE:MOT) and Royal Philips Electronics (NYSE:PHG, AEX:PHI).

In August 2000 Sagitta raised $5 million at a post-money company value of $27 million.

The company employs 45 people in facilities in Kfar Saba, New York and California.