NanoOpto Secure another $3.3m in VC Financing

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 an additional $3.3 million in venture financing, completing the final phase of its Series B round. The funding is from existing equity partners Morgenthaler Ventures; U.S. Trust’s Excelsior Venture Partners III, L.L.C.; Draper Fisher Jurvetson (DFJ) Gotham Ventures and New England Ventures; Bessemer Venture Partners; and the Harris & Harris Group. Harris & Harris took this opportunity to increase its share of investment in NanoOpto. This additional $3.3 million brings the total financing raised by NanoOpto to date to $30.3 million.

“I am delighted that our existing investors are providing the additional financing that will enable NanoOpto to move from product development and initial commercialization into full production,” commented Barry Weinbaum, NanoOpto President & CEO. “It is particularly gratifying and motivating to have everyone in unified support for the progress made and the status attained.”

“We are excited by the progress that NanoOpto is making in demonstrating the value of its unique product platform by moving into production for several dynamic, challenging, and high-growth optical component markets,” said Charles Harris, Chairman of the Board and Chief Executive Officer of Harris & Harris Group. “Harris & Harris is delighted to continue its show of confidence and support by increasing its investment in NanoOpto.”

NanoOpto is currently sampling and shipping its unique technology for a broad range of markets, including optical disk drives, digital imaging, projection displays, and telecommunications.

For more information on nanotechnology, click here or visit AZoNano, The A to Z of Nanotechnology.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit