Advanced Inquiry Systems has new backing

Advanced Inquiry Systems has new backing

Semiconductor test company Advanced Inquiry Systems Inc. has a new benefactor and raised more than $1 million in outside investment this year.

Once known as Octavian Scientific, AISI was among Oregon’s best-funded tech startups in the decade after the dot-com crash. It raised at least $43 million through 2010 developing new testing tools for the chip industry. Backers included OVP Venture Partners and Intel Capital, among others. The company employed 22 at a Hillsboro office as of 2009.

But product development stalled around that time, according to Mark Gardiner, who ran the company from 2003 to 2006, and returned as chief executive in 2011. A private equity fund called QVT Financial inherited a major stake in AISI through a prior investment, according to Gardiner, and investors set about rescuing the business.

Read more at OregonLive.com.