Maynard, MA Supercomputer maker SciCortex to shut down operations May 31, 2009Posted by HubTechInsider in Supercomputing, Venture Capital.
Tags: maynard, supercomputers, Venture Capital, waltham
SciCortex, a high-efficiency supercomputer maker based in Maynard that employed around 80 people, is shutting its doors and ceasing operations. The company was backed by two venture capital firms: Cambridge, Mass.-based Flagship Ventures and Waltham, Mass.-based Polaris Venture Partners. The company had raised a $5 million venture round in January, and had raised a total of $37 million.
SciCortex’s primary product was a high powered computer needed for complex computations and scientific discovery that, it was claimed, was up to 80 percent more efficient than traditional supercomputers. Some of the company’s supercomputer units apparently could be plugged into standard AC wall sockets, unlike the more common supercomputers that need special industrial AC power connections.
The company’s primary customers included government and academic institutions that could not afford more expensive, traditional supercomputers. It was thought the company had sold around 70 units within the past year.
Gerbsman Partners, a California-based business consulting firm, claimed on a company blog that they had been retained by SciCortex’s board to solicite bids for the SciCortex assets, primarily its intellectual property.
The company’s public relations firm is Racepoint Group, based in Waltham.
SiCortex has not filed a bankruptcy protection in Massachusetts or Delaware, where it is incorporated.