June 9, 2009
Investors, ARCH Venture Partners, Applied Ventures, Intersouth Partners and Other New Investors Invest $6.4 Million in Series B Funding for Semprius, Inc.
Based in Durham, North Carolina, semiconductor innovator, Semprius, Inc. announced that it had just raised $6.4 million in series B funding from existing investors, ARCH Venture Partners, Intersouth Partners, and Applied Ventures along with some other investors joining in the funding round.
Semprius, Inc. is a unique company that is in the process of commercializing an innovative development for the creation of powerful semiconductors that can be used on any substrate, including glass, plastic, and other semiconductor materials. Some of the applications of this new revolutionary technology include uses in LCD and OLED displays, solar modules, and advanced disk drives. The reason why this technology is so innovative is because it can be applied to any substrate, enabling designers to apply these semiconductors on just about anything and simplifying the creation of new revolutionary electronic devices. With the semiconductors available today, a special substrate is needed to apply them. With Sempriusâ€™s innovative technology, the manufacturing of electronics will become much less expensive because the limits will be broadened for manufacturers, therefore making electronic goods available to consumers at a much lower cost.
According to Joe Carr, President and CEO of Semprius, Inc., the team of Semprius is very excited to have the continued strong support from the companyâ€™s existing investors and to attract new investors to pitch into this round of funding. Furthermore, the current focus that Semprius has on solar modules is an enormous market opportunity and the funding from these investors can only attest to the fact that Semprius has a technology that can revolutionize the semiconductor industry.
As far as Kip Frey of Intersouth Partners is concerned, the progress that Semprius has made over the past few years is amazing, and Intersouth Partners believes that the company is a good investment, because of its innovative product and market success. Furthermore, Sempriusâ€™s unique semiconductors are a breakthrough for the solar power and other industries.
ARCH Venture Partners is a leading vc firm that provides entrepreneurs with the necessary seed and early stage funding to get their companies off the ground. ARCH partners with entrepreneurs and academic institutions mainly focuses its investments on the life sciences, physical sciences, and IT industries. ARCH has invested in over 120 different companies since its inception. Some of the companies in ARCHâ€™s portfolio include Adesto, Aveso, Crystal IS, Nanophase, Nanosys, Sapphire Energy, Alpha Light, and others.
Applied Ventures is the vc arm of Applied Technologies, which is a global leader in manufacturing technology for the electronics industry. Applied Ventures makes investments in companies that Applied Technologies has a potential interest in. Some of the companies in Applied Venturesâ€™ portfolio include ActaCell, Adesto, Advanced Inquiry Systems, Enphase Energy, Fat Spaniel Technologies, GlimmerGlass, GroupIV, and others.
Founded in 1985 and based in Durham, North Carolina, Intersouth Partners is a large vc firm that has about $780 million under its management. Intersouth Partners is one of the most active vc firms in the American Southeast and has invested in more than 90 companies. Intersouth Partners mainly invests in the life sciences and tech industries. Some companies in Intersouthâ€™s portfolio include Accipiter, Bright Hub, Bright View Technologies, Clarabridge, Comstock Systems, Digital Optics Corporation, and others.
For more information about Semprius, Inc., click here.