High-Tech Startup Nears $10 Mil. Funding Deal

ORLANDO-SkyCross Inc., a five-month-old Milcom Technologies Inc. spinoff, expects to close shortly on its first round of investment financing with a so-far unidentified venture capitalist. SkyCross makes advanced antennas for wireless communications.

By Alex Finkelstein | Updated on September 07, 2000

The 20-person, five-month-old SkyCross Inc. expects to close shortly with a venture capital firm on an estimated $10 million, first round of seed money. The venture capitalist was not identified. The total amount of the funding wasn’t disclosed.

SkyCross makes advanced antennas for wireless communications at its Melbourne, FL plant, about 50 miles south of Downtown Orlando. The company projects annual sales of $250 million within the next five years and plans to triple its work force in the next 12 months.

SkyCross was formerly known as ViaTech but changed its name to avoid conflicts with similar-sounding companies. The firm’s funding to date has all come from its parent, Milcom Technologies Inc. of Maitland, FL, an Orlando suburb. Skycross is one of eight defense spinoff companies Milcom has helped create since 1997.

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