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NanoOpto Announces Closing on $12M of C-Round Venture Financing

Published on March 23, 2005 at 10:27 AM
NanoOpto Corporation, who is applying novel design methods and proprietary nano-fabrication technology to produce a broad range of unique optical components that enable higher quality, low-cost optical components and systems, announced that it has closed on $12 million in Series C round venture financing. First Analysis, a leading private growth-equity investor, is leading the round. Existing equity partners joining in the round are Morgenthaler Ventures; the Draper Fisher Jurvetson (DFJ) network (including DFJ Gotham Ventures and New England Ventures); Harris & Harris Group; and U.S. Trust’s Excelsior Venture Partners III, L.L.C. The total financing raised by NanoOpto to date is $42.3 million.

“The combination of high growth markets, novel technology and products, and a proven team makes NanoOpto an exciting investment opportunity for First Analysis,” said Tracy Marshbanks, Vice President and General Partner specializing in advanced materials investments at First Analysis. “We look forward to assisting in the next phase of NanoOpto’s growth with its focus on high volume commercialization and continuing product innovation.”

“Over the past four years, NanoOpto has evolved from a nascent technology platform to shipping real products to customers in real markets,” said Greg Blonder, General Partner at Morgenthaler Ventures. “Morgenthaler and the other existing investors recognize the successful progress and accomplishments made by the NanoOpto team, and are pleased to support the continued growth of the company.”

“NanoOpto is now in volume production, shipping its unique optical devices to a broad range of markets, including optical disk drives, digital imaging, projection displays, and communications,” says Barry Weinbaum, President and CEO of NanoOpto Corporation. “At this important juncture in our company’s development, we are pleased to add First Analysis to our group of investors.”

So far in 2005, NanoOpto has announced a range of new product offerings: IR cut-off filters for digital imaging applications, waveplates for optical data storage applications, and optical isolators for communications transceivers. These products are realizations of NanoOpto’s general product capabilities that span polarizers, phase retarders, filters, dynamic optics, and their integration with other optical devices, and into optical systems, utilizing UV, visible, and IR wavelengths.

http://www.nanoopto.com

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