Cambrios Technologies, a US-based developer of nanotechnology-based consumer products, secured $5m in series D-3 funding from Samsung Venture Investment Corporation on Tuesday. The funding came as it emerged John LeMoncheck has taken up the role of president and chief executive at Cambrios.
The initial close of Cambrios’ series D round came in November 2009 when $14.5m was raised from a pool of investors including Presidio Ventures and Sumitomo Ventures – both corporate venturing subsidiaries of the Japan-based conglomerate Sumitomo – Mitsubishi UFJ Capital, which acts as the venture capital (VC) division of the Mistubishi UFJ financial group, and In-Q-Tel, the VC firm representing the US intelligence community.
Joining the corporates were VC firms Alloy Ventures, ARCH Venture Partners, Harris & Harris Group, Headland Ventures, Lux Capital and Oxford Bioscience Partners, VC fund Avalon Ventures, boutique investment bank Kidron, real estate investment trust Alexandria Real Estate Equities and Altitude Life Science Ventures, a VC firm backed by the Southern Ute Indian Tribe.
Cambrios subsequently raised $2.6m in D-1 funding, in December 2010, and $9.3m in D-2 financing in June 2011. The company has now raised $73.5m since 2005.
Cambrios’ first product is ClearOhm, a material it produces that works as a coating for plastic or glass, and which provides better transmission and resistance than traditional indium tin oxide. Applications for the coating include touch screens, liquid crystal displays and thin film photovoltaics for solar energy production.
Dong Su Kim, investment director of Samsung Ventures, America, said: "Cambrios leads the market with the development of an alternative to vacuum-deposited ceramic materials such as ITO. It has built a significant business in developing ground-breaking products using nanotechnology.
"John LeMoncheck’s excellent business vision and Cambrios’ technical accomplishments have led to innovative products that are critical to driving increased adoption of ClearOhm materials. We look forward to contributing to Cambrios’ continued progress in powering various consumer electronics applications with its ClearOhm technology."
LeMoncheck formerly held the same posts as president and chief executive offiice for fabless semiconductor company SiBEAM. Prior to his five years at SiBEAM, LeMoncheck held senior positions at digital display company Arithmos, high definition TV chip maker TeraLogic and semiconductor developer Silicon Image, which acquired SiBEAM for $25.5m in May last year.