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Innova Dynamics gets $5.5M in venture financing

Innova Dynamics, Inc., an advanced-materials technology company created by two University of Pennsylvania engineering alumni, said Wednesday that it has attracted $5.5 million in venture financing.

Innova Dynamics, Inc., an advanced-materials technology company created by two University of Pennsylvania engineering alumni, said Wednesday that it has attracted $5.5 million in venture financing.

The lead investor is Rho Ventures of New York, whose partner, Nicholas Darby, will join the Innova Dynamics board as chairman. MentorTech Ventures, a Philadelphia firm that specializes in technology companies that grow out of Penn, also invested.

Innova's founders are Alexander Mittal and Arjun Srinivas, who studied engineering and business at Penn. Innova has applied for patents for technology that can incorporate unconventional features, such as antimicrobial qualities, in polymeric surfaces.    - Andrew Maykuth