Nantero Announces $15MM in Funding
Company's Partnerships and Award Winning Scientist Continue
to Excite Investors
WOBURN, Mass., March 8 /PRNewswire/ -- Nantero, Inc., a nanotechnology company using carbon nanotubes for the development of next-generation semiconductor devices, announced today that it received its third round of investment (Series C). The new lead investor is Globespan Capital Partners, which is a global venture capital firm investing in information technology companies. Returning existing institutional investors include Charles River Ventures, Draper Fisher Jurvetson, Stata Venture Partners, and Harris & Harris Group (Nasdaq: TINY). Ullas Naik, a Managing Director with Globespan Capital Partners based in their Boston office, has joined Nantero's Board of Directors. This past year Nantero has teamed with LSI Logic Corporation (NYSE: LSI) to develop semiconductor process technology which will expedite the effective utilization of carbon nanotubes in CMOS fabrication, and has also joined with BAE Systems to evaluate the potential to develop carbon nanotube-based electronic devices for use in advanced defense and aerospace systems. Brewer Science, Inc. also entered into an agreement with Nantero to commercialize CMOS-grade carbon nanotubes (CNTs) to be used in semiconductor fabs by Brewer Science customers. "Nantero's multiple partnerships validate the enormous market potential of its technology", stated Ullas Naik of Globespan Capital Partners. "Few, if any, nanotechnology device companies have made the transition from lab to fab the way Nantero has." As Nantero continues to make progress in the lab, the company and its scientists have been acknowledged with several prestigious awards in 2004. Co-founder and Chief Scientist Dr. Thomas Rueckes was named by Small Times magazine as a Runner Up for Innovator of the Year and was also honored as one of the five finalists for the 2003 Feynman Prize in Nanotechnology, awarded by the Foresight Institute, in the Experimental category. Previous winners of the Feynman Prize in Nanotechnology include Charles Lieber (Harvard University), Chad Mirkin (Northwestern University) and Phaedon Avouris (IBM). Nantero was also named "Business Leader" in the Scientific American 50 in the Nanotechnology and Molecular Electronics Category. Greg Schmergel, co-founder and CEO of Nantero, Inc., commented, "We are very pleased to have completed this round of funding and to have Globespan Capital Partners join us for the next stage of our development. The high level of interest in Nantero from both investors and partners is testimony to the world-class work being performed by the entire team." About Nantero Nantero is a nanotechnology company using carbon nanotubes for the development of next-generation semiconductor devices. Nantero's main focus is the development of NRAM(TM) -- a high-density nonvolatile random access storage device. NRAM(TM) will replace all existing forms of storage, such as DRAM, SRAM and flash memory, with a high-density nonvolatile RAM -- 'universal memory.' The potential applications for the nonvolatile RAM Nantero is developing add up to over $100B in revenue potential, including the ability to enable instant-on computers and to replace the memory in devices such as cell phones, MP3 players, digital cameras, and PDAs, as well as applications in the networking arena. NRAM(TM) can be manufactured for both standalone and embedded memory applications. Nantero is also working with licensees on the development of additional applications of Nantero's core nanotube-based technology. For more information on Nantero, Inc. contact SGN Public Relations & Marketing at Suzanne@nantero.comRELATED LINKS
SOURCE Nantero, Inc.