Vibrant Corporation announces that it has closed a follow-on financing round from New Mexico venture capital firm, Verge Fund, other existing investors and new investors. These funds will be used to expand the services Vibrant offers to its current customers.
“In a difficult financing environment, we are pleased by the continued interest and support from both our existing investor group, including Verge Fund and several prominent angel investors, and the new investors who participated in this round. We look forward to using this financing to accelerate our growth in the nondestructive testing industry,” said Lem Hunter, President and CEO of Vibrant. “Vibrant is gaining meaningful traction in the aerospace and power generation non-destructive testing markets. Without the support of Verge and our other investors, we would not be able to meet the needs of our customers in a timely fashion.”
Vibrant Corporation provides nondestructive testing services to customers in the aerospace manufacturing and maintenance markets. The Company helps its manufacturing customers to increase production yields while decreasing the likelihood that inferior components enter service. For Maintenance, Repair & Overhaul (MRO) customers, Vibrant’s system provides early identification of damaged or aging components, thereby optimizing component life while decreasing the likelihood of a component failing in service. Vibrant serves domestic and international customers from its headquarters in Albuquerque, NM.
“Verge Fund is very pleased with the company’s progress and we believe that their innovative non-destructive testing technology will make airplanes safer while reducing the cost and time required for critical maintenance,” said Verge Partner David Durgin.
Vibrant is a spin off of Mechtronic Solutions, Inc. that has commercialized Process Compensated Resonance Testing (PCRT) for use in the aerospace and power generation industries. The PCRT technology, licensed from Magnaflux Quasar, is a revolutionary nondestructive testing technology that can determine if a component is structurally sound and fit for service. Vibrant has developed PCRT applications focused on the safety critical components found in the aerospace industry. These applications bring the power of PCRT to bear on new product quality control and in-service product degradation tracking Vibrant is now performing testing services for several major aerospace manufacturers and Maintenance, Repair, and Overhaul (MRO) firms.
About Verge Fund
Verge Fund is a seed and pre-seed venture capital fund, investing in promising technology opportunities. With over 80 years experience as investors and operators, the six Verge Fund partners work closely with entrepreneurs and technologists to develop promising opportunities in successful commercial ventures. Verge Fund invests at the earliest stages of a company’s development, typically placing $100,000-$500,000 in first round investments. www.vergefund.com