Nantero Raises Funding for Nanotechnology - News Item

Nantero announced today that it received a first round of investment to develop a nanotube-based universal memory. Investors included Draper Fisher Jurvetson, a leader in nanotechnology investing, along with East Coast semiconductor investor Stata Venture Partners. Also participating in the round were Harris and Harris Group from New York, an early investor in Nanophase, and Alex d’Arbeloff, Chairman of MIT and founder of Teradyne,who joins Nantero ’s Board of Directors.

Nantero is currently developing NRAM™ –a high-density nonvolatile random access memory chip using nanotechnology. The company expects to deliver a product that will replace all existing forms of memory, such as DRAM, SRAM and flash memory, with a high-density nonvolatile RAM – ‘universal memory’ Jennifer Fonstad, Managing Director of DFJ, noted that “The potential applications for the nonvolatile RAM Nantero is developing add up to over $100B in revenue potential, including the ability to enable instant-on computers and to replace flash memory in devices such as MP3 players, digital cameras and PDAs-not to speak of the applications in the networking arena.”

A complete scientific team consisting of specialists in multiple disciplines in the fields of nanotechnology and semiconductors has already been formed and is led by Dr. Thomas Rueckes, co-founder and Chief Scientific Officer. “Our new NRAM ™ design uses carbon nanotubes as the active memory elements, and we are now developing a straightforward way to manufacture the memory chip and integrate it with standard semiconductor processes,” says Dr. Rueckes, inventor of the nanoelectromechanical NRAM ™ design.

Greg Schmergel, Nantero’s co-founder and CEO, added, “We are pleased to have completed this round of funding and expect to be making further product and partnership announcements in the near future.

Posted October 2001