The latest news from academia, regulators
research labs and other things of interest
Posted: May 10, 2009
ZettaCore's Molecular Technology Receives $21 Million Funding Boost
(Nanowerk News) ZettaCore, Inc., a developer of molecular materials and technology for current and next-generation semiconductor products, today announced that it has completed raising $21 million in a Series C financing that will allow the company to bring its technology to market. New investors Globis Capital Partners, Itochu Technology Ventures, Yasuda Enterprise Development, Epic Ventures, and Panasonic Ventures joined all previous investors: Draper Fisher Jurvetson, Kleiner Perkins Caufield & Byers, Radius Ventures, Oxford Biosciences, Access Ventures, Garrett Capital, and Stanford University.
"ZettaCore's molecular technology has the potential for broad use in the electronics industry. We were impressed with the technology's ability to further scale system level interconnect, enable high energy/power density storage in electronics and to advance Moore's law in semiconductor memory," said Satoshi Kabasawa, Councilor in the Technology Strategy Group of the Corporate R&D Strategy Office of Panasonic Corporation.
"We believe that ZettaCore's molecular technology can be an important element in our success," added Dilip Sampath, Venture Partner with Panasonic Ventures, Panasonic's U.S.-based venture capital arm. "We look forward to working with ZettaCore to find ways to integrate the technology in Panasonic's products."
"We are pleased with the progress ZettaCore has made towards commercialization of its technology. The investments from Panasonic Ventures as well as the other Japanese investors are a very good endorsement of the value of ZettaCore's technology," said Steve Jurvetson, of Draper Fisher Jurvetson, an investor in the company from its founding.
"This investment in ZettaCore will enable us to grow our business," said Subodh Toprani, ZettaCore chief executive officer. "With the new funds we will be expanding internationally, creating new product offerings and ramping commercial production of our technology."