EMERYVILLE, Calif., March 7 /PRNewswire/ -- Nanomix Inc., a leading nanotechnology company commercializing a line of nanoelectronic detection devices for industrial and biomedical applications, today announced the close of an oversubscribed $16 million round of funding. The investment reflects the strong support of new investors Harris & Harris Group, Inc. and STAR Ventures, as well as existing investors Alta Partners, Apax Partners, Sevin Rosen Funds and EnerTech Capital Partners.
Nanomix is focused on broad deployment of Sensation(TM) detection technology, based on ultra-sensitive carbon nanotube networks. The sensors are treated with proprietary chemistries resulting in a wide variety of products that are applicable to large, fast growing markets such as: environmental monitoring, respiratory diagnostics and bio molecule detection.
"The new round of funding will accelerate our commercialization of Sensation(TM) detection technology," said David Macdonald, President and CEO of Nanomix. "Our detection platform provides access to critical information not currently available. With products launching this year, we believe that Nanomix is one of the first companies to be launching devices that harness the features of nanoelectronics. I believe this has contributed strongly to the high-level of investor interest that has significantly exceeded our maximum level established for this round of funding. We are encouraged to have our progress and direction validated by such a prestigious group of investors."
"We are enthusiastic about leading this round of funding for Nanomix," said Dr. Daniel Leff, Executive Vice President & Managing Director at Harris & Harris Group, Inc. The Nanomix Sensation(TM) detection platform has the potential to enable greater access to valuable diagnostic information." As a result of this financing, Dr. Leff will join the Nanomix Board of Directors.
"Nanomix has developed an exceptional detection platform that can be applied to large market opportunities," said Guy Sella, Venture Partner with STAR Ventures. "We are very impressed with the company's product pipeline, experienced management team and market vision."
A team of O'Melveny & Myers attorneys led by partner Warren Lazarow represented Nanomix in the financing.
Nanomix is a leading nanotechnology company launching a menu of devices based on Sensation(TM) detection technology. These scaleable, nanoelectronic devices use ultra-sensitive carbon nanotube sensing elements combined with proprietary chemistries. These devices can be deployed across a broad range of industrial and medical applications where the attributes of nanodetection technology -- low power consumption, small form factor, and high sensitivity offer significant performance advantages and enable unprecedented access to critical information. Additional information is available at http://www.nano.com/.
Harris & Harris Group, Inc. 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 22 initial private equity investments have been in tiny technology-enabled companies. The Company has 17,248,845 common shares outstanding. For more information please visit http://www.tinytechvc.com/.
STAR Ventures is an international venture capital firm that since its inception in 1992 has been investing in private, emerging and later-stage growth companies in the communications, software, semiconductor and life science sectors. With offices in Munich, Germany, Herzliya, Israel and Dallas, USA, and an experienced investment team, STAR has both the global reach and the resources to enable successful growth of its portfolio companies. Star manages close to US$ 1B, and has invested in over 170 portfolio companies. For more information please visit http://www.star-ventures.com/.
Alta Partners is a venture capital firm founded in 1996, currently managing seven venture fund programs aggregating approximately $1.5 billion in committed capital. Alta has funded over 130 life sciences and information technology companies to date. The firm invests in both early and later stage companies, through separate stage-specific funds. Alta Partners is a successor to Burr, Egan, Deleage & Co., which was founded in 1979. For more information please visit http://www.altapartners.com/.
Apax Partners is one of the world's leading private equity investment groups, operating across the United States, Europe and Israel. With more than 30 years of direct investing experience, Apax Partners' Funds provide long-term equity financing to build and strengthen world-class companies. It pursues a balanced equity portfolio strategy, investing in late venture, growth capital and buyouts. Apax Partners' Funds invest in companies across its 6 chosen global sectors of retail and consumer, IT, media, telecommunications, healthcare and financial/business services. For more information please visit http://www.apax.com/.
Sevin Rosen Funds is a top-tier venture capital firm with a track record of funding successful companies since 1981. The partnership has consistently made early-stage investments in pioneering technologies and companies with the potential to create new markets. The partners' broad range of venture and operating experiences in successful technology companies translates into a sustained commitment and contribution to the development of the ventures funded. Compaq, Lotus, Cypress, Electronic Arts, SGI, Citrix and CIENA are representative of some of the firm's successful IPOs. For more information please visit http://www.sevinrosenfunds.com/.
EnerTech Capital Partners is widely acknowledged as one of the leading venture capital firms focused on energy technology, clean technology, and other related technologies that have influenced the energy landscape. Since EnerTech began investing in 1996, it has focused on companies offering innovative solutions in areas such as alternative energy, distributed generation, grid management, and emissions control. EnerTech has a deep understanding of the energy value chain and helps create companies that address the challenges of this complex industry. For more information please visit http://www.enertechcapital.com/.