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Cambrios Technology Announces $12 Million Series B Round
Mountain View, Calif. - February 1, 2005 - Cambrios Technologies Corporation, the pioneer in applying strategies of biological systems to the assembly and synthesis of materials for solid-state electronics, announced today the first closing of $9 million toward a guaranteed $12 million Series B funding round.
In-Q-Tel, Harris & Harris Group Inc., (Nasdaq: TINY) and Headland Ventures join Series A investors Alloy Ventures, ARCH Venture Partners, Avalon Ventures, Lux Capital, and Oxford Bioscience Partners, all of whom are participating in the Series B. Cambrios will use the new funds to accelerate its development of biochemical materials for electronic manufacturing processes and other commercial products.
"Cambrios has a large vision for using biological technology in assembling inorganic materials that make up solid-state electronic devices," said Michael Knapp, Ph.D., president and CEO of Cambrios. "Our investors have given us a great vote of confidence. We now have the resources to pursue this vision vigorously and accomplish two things: rapidly develop tangible manifestations of the technology and find commercialization partners with which to bring them to market."
"We're pleased to be investors in Cambrios," said Daniel Leff, Executive Vice President & Managing Director at Harris & Harris Group. "Cambrios' approach of liquid-phase, biologically directed, inorganic materials synthesis has the potential to be a more cost-effective fabrication alternative for a multitude of electronics applications, such as the deposition of thin films in liquid crystal display manufacturing."
"It's still early but if Cambrios continues hitting key milestones, it could effect one of the most profound shifts in the history of electronics manufacturing," said Josh Wolfe, Co-Founder and Managing Partner with Lux Capital.
In-Q-Tel (www.in-q-tel.org) is a private, independent, not-for-profit venture group funded by the CIA. Launched in 1999, In-Q-Tel’s mission is to identify and invest in companies developing cutting-edge information technologies that serve United States national security interests. Working from an evolving strategic blueprint that defines the CIAs critical information technology needs, In-Q-Tel engages with entrepreneurs, established companies, researchers and venture capitalists to deliver technologies that pay out in superior intelligence capabilities for the CIA and the larger Intelligence Community.
Harris & Harris Group, Inc. (www.TinyTechVC.com) is a publicly traded venture capital company that now makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems (MEMS). The Company's last 19 initial private equity investments have been in tiny-technology enabled companies. The Company has 17,248,845 common shares outstanding.
About Headland Ventures
Headland Ventures is a venture partnership singularly focused on building successful companies from the ground up. Headland concentrates on the connectivity provided by the next generation communications network and the companies defining its direction.
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