MEMX has appointed Mike Hodges President and CEO. Hodges has served as CEO during the formative stages, of optoelectronics companies such as Onetta, Tellium, Bandwidth9 and Biometric Imaging. In 2000, Hodges served as CEO of Onetta growing the company to 100 people. In 1999, he served as CEO of Tellium growing the company to a staff of 140. In both cases, he brought the companies to the point of first revenue.
MEMX also has announced a new funding round, including investments from Sequoia Capital, Austin Ventures, TMA Ventures, and Council Ventures.
Leveraging 10 years and $100M of MEMS research at Sandia National Laboratories, MEMX will develop, manufacture and market sub-systems for the telecom industry. The company's technical team spent ten years at Sandia National Laboratories developing and perfecting the revolutionary SUMMiT V MEMS technology. MEMX will be the vehicle to commercialize this technology, taking it out of the labs and into the Telecom world.