Nanomix raises $16M third round (TheDeal.com)
- Semiconductor sensor maker Nanomix Inc. has raised a $16 million third round led by New York-based nanotechnology venture capital specialist Harris & Harris Group Inc. and Germany's Star Ventures, bringing the total raised by the Emeryville, Calif., nanotechnology startup to more than $30 million.
Previous investors Alta Partners of San Francisco, Sevin Rosen Funds of Dallas, Apax Partners Inc. of New York and EnerTech Capital Partners of Chicago all participated in the oversubscribed round. David Macdonald, president and CEO of Nanomix, declined to comment on valuation but said it was a "pleasant" feeling to have so many interested investors and that he wasn't eager to raise more capital anytime soon.
As part of the round, Daniel Leff, an executive vice president and managing director with Harris & Harris, joined the company's seven-member board. Nanomix did not use financial advisers, but Warren Lazarow, a partner with O'Melveny & Myers LLP, represented Nanomix in the financing.
Nanomix takes carbon nanotubes, wraps different molecules around them and integrates them on a chip in its own clean room. The company uses old semiconductor technology in its manufacturing process working on four-inch wafers. Macdonald said the 5-year-old company will launch its first products later this year and begin generating product revenue. More here (registration required)