Nanosys Raises $40m Via a Private Equity Financing Venture

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Nanosys Raises $40 Million Through a Private Equity Financing Venture for Developing New Nano Products

Nanosys, Inc., a privately held company focused on developing nanotechnology-enabled products, today announced that the company has raised approximately $40 Million in a private equity financing. This financing was led by El Dorado Ventures and includes new investors Masters Capital, Medtronic, Inc., Wasatch Advisors, and others. In addition, there was strong participation from existing investors including Alexandria Equities, ARCH Venture Partners, CDIB BioScience Ventures, CW Group, Harris & Harris Group, Inc., In-Q-Tel, Intel Capital, H.B. Fuller Company, Lux Capital, Polaris Venture Partners, Prospect Venture Partners, UOB Hermes Asia Technology Fund, and Venrock Associates.

Nanosys will use this funding for the ongoing development and manufacturing scale-up of products that incorporate its proprietary, inorganic nanostructures with integrated functionality for multiple industries. Current product development programs include chemical analysis chips for pharmaceutical drug research, fuel cells for portable electronics, nanostructures for displays and phased array antennas, non-volatile memory for electronic devices, and solid state lighting products.

“The overwhelming response and success of this financing demonstrates a strong validation of our approach and progress towards developing and commercializing nanotechnology-enabled products,” said Calvin Chow, Nanosys' Chief Executive Officer. “We are extremely pleased with the high quality group of new investors as well as the continued support of our key existing investors.”

“Nanosys is poised to enable a range of innovative products, transforming industries from electronics to life sciences.” said Tom Peterson, General Partner of El Dorado Ventures. “It is clear to us that Nanosys is uniquely positioned to become a leading nanotechnology company through its broad technology platform, leading intellectual property, diversified product portfolio, experienced team, and world class collaborators.”

Source: Nanosys.

URL: http://www.nanosysinc.com

This story was posted on 10 November 2005.