Cidra Corp.
50 Barnes Park North, Wallingford, CT

Connecticut Innovations takes early stage risks. In the case of Cidra Corporation, Connecticut Innovations invested when the company had one person and an office the size of a closet. As Cidra grew, Connecticut Innovations continued to support it through 5 rounds of fund raising contributing more than $6 million since 1997. That capital has helped Cidra raise more than $78 million from private equity firms.

Cidra, founded in 1996, makes sonar-based flow meter systems for a wide variety of industrial applications, including offshore oil and gas production, pulp and paper production, and minerals processing.

From oil drilling to bioscience, Cidra has continuously developed applications based on its core technology to address a wide range of markets. In 2001, Cidra sold its oil and gas instrumentation business to Weatherford International, Inc.

In 2003 Cidra spun out another entity, Cyvera Corporation, to pursue Cidra’s optical instrumentation skills in the bioscience field. In 2005, Cyvera Corporation was acquired by Illumina, Inc.
 
Over the years, Cidra, has exhibited the unique ability to not only leverage its core technology but realize value from applications developed around its core technology. Connecticut Innovations has been an investment partner all along the way. Today the company employs 80 people, primarily highly skilled engineers experienced in fluid dynamics, instrumentation, photonics, closed loop control, and sensing applications. Cidra has developed more than 750 inventions and holds 110 U.S. patents, with many more pending. This talented team of people has managed to survive the downturn in the telecommunications industry, sold two business units and continues to expand into new industrial applications. Flexibility, technical brilliance and business acumen have all helped Cidra continue to build a strong Connecticut company.

www.cidra.com