Nanotronics Secures $30 Million led by Investment Corporation of Dubai (ICD) to Accelerate Industrial AI and International Market Expansion
Oct 03, 2017, 08:17 ET
BROOKLYN, N.Y., Oct. 3, 2017 /PRNewswire/ -- Nanotronics, a global developer of the world's most technologically advanced automated microscope, today announced it has secured $30 million in Series D funding led by Investment Corporation of Dubai (ICD) with participation from current investor, Founders Fund. ICD's portfolio includes more than 40 company investments across diverse sectors with a global footprint spanning more than 50 countries. Following the completion of this current financing, Nanotronics will have raised a total of $71 million, which will accelerate the development of the company's cutting-edge optical inspection technologies and proprietary industrial enterprise software, as well as expansion into key regions of the Asian market in 2018.
"From the first Nanotronics system sold six years ago, to the over 60 factories we now operate in around the world, we are bringing our mission of delivering a convergence of the most advanced technologies back to industry," said Nanotronics founder and CEO, Dr. Matthew Putman, PhD. "Our expansion will fuel an engine of invention, and as we enable our customers to deploy better technology, Nanotronics' methods and opportunities will be further positioned at the center of the global manufacturing network."
Nanotronics provides scientists and engineers a powerful tool that seamlessly integrates into manufacturing supply chains for everything from MEMs and semiconductors to aerospace hardware, nano-medicine, and DNA sequencing and storage. Redefining the relationship between technology and manufacturing, Nanotronics' systems such as nSPEC® and nSPEC®3D were developed with a globally patented super-resolution; 3D imaging; precision robotics; and the most advanced software techniques for computer vision and artificial intelligence. Nanotronics' capabilities allow manufacturers to rapidly implement design and process changes, increase yields and process control, and reduce scrap and costs.
"Consumers have access to better algorithms in their smartphones than you will find inside most of the factories that make what we consume. That gap is an opportunity. Nanotronics is seizing it," remarked Founders Fund partner and Facebook, Palantir, and Nanotronics Board Director, Peter Thiel.
"This investment reaffirms ICD's strategic commitment towards technology innovation and marks the beginning of a long term partnership with Nanotronics which we believe is playing an important role in shaping the future of advanced manufacturing and inspection across global industries," said Khalifa Al Daboos, Deputy CEO of ICD.
Investment Corporation of Dubai will be joining other existing Nanotronics investors: co-founder of Skype and Kazaa Jaan Tallinn, co-founder of First Round Capital and Renaissance Technologies Howard Morgan, and media and technology mogul Kevin Wall.
About Nanotronics
Nanotronics is an Inc. 5000 company founded in 2010 by Matthew Putman, PhD and has offices in California, Ohio, and New York. The company is venture backed by Founders Fund, Investment Corporation of Dubai, and is a personal investment of Jaan Tallinn, Howard Morgan, and Kevin Wall. Nanotronics customers include Broadcom, ST Micro, IQE, II-VI, Soraa, Applied Optoelectronics, and many others. All Nanotronics products are designed and manufactured in California. To learn more about Nanotronics, please visit: https://www.nanotronics.co/.
About Investment Corporation Dubai
ICD was established in May 2006 by decree (11) of 2006 under a mandate to consolidate and manage the Government of Dubai's portfolio of commercial companies and investments. It also provides strategic oversight by developing and implementing investment strategy and corporate governance policies with an objective to maximize stakeholder value, for the long-term benefit of the Emirate.
ICD, as the principal investment arm of the Government of Dubai currently has a portfolio that represents a cross-section of Dubai's most recognized companies, in sectors that the Government of Dubai has deemed to be strategic for the continued development of the Emirate. The sectors include financial services, transportation, energy and industries, real estate and leisure, retail and other holdings. In addition, ICD has embarked on a disciplined and sustainable strategy of global investments, which are synergistic with its existing portfolio, to extend Dubai's presence and expertise into international markets.
For more information about ICD please visit www.icd.gov.ae
Nanotronics:
Contact: Alexis Stoller
Phone: 202-997-9862
Email: [email protected]
SOURCE Nanotronics