August 12, 2009
Investor, Vista Ventures Leads $10 Million Investment in Second Round Funding for Shocking Technologies
Based in San Jose, California, Shocking Technologies announced today that it had just received $10 million in second round funding, which was led by Vista Ventures. The companyâ€™s existing investors also participated in this round of funding. Shocking Technologiesâ€™ other investors include ARCH Venture Partners, ATA Ventures, Balch Hill Partners, and some undisclosed private investors.
Shocking Technologies is a company that develops polymers for dielectric circuits. Currently, Shocking Technologies is developing a unique dual-use voltage switchable polymer that is under the trademark name of Voltage Switchable Dielectric or VSD. This is basically a polymer nano-composite, that in normal circumstances behaves like an insulator, but when the voltage in the circuit crosses the threshold of the VSD, it becomes a conductor. Once the voltage drops below the set threshold, the polymer again behaves like an insulator. This innovative technology can revolutionize the electronics industry because it can completely change the way circuitry can function in certain electronic devices. One of the applications for this polymer is designed for embedded electrostatic discharge or ESD protection in printed circuit boards and semiconductors.
Along with this round of funding, Shocking Technologies also announced that it has appointed a new member to its board of directors. Simon Michael, from Balch Hill Partners will be joining the companyâ€™s board of directors and continue advising the company in future business strategies.
According to Vista Ventureâ€™s Jim Hogan, the polymer nano-composite that Shocking Technologies is developing is going to solve a problem that has been in the electronics industry for a long time. It will also make the design of both chips and electronic systems much easier and more effective.
According to Shocking Technologiesâ€™ president and CEO, Lex Kosowsky; Shocking Technologies has been very fortunate that it was able to identify the cause of a major problem in the electronics industry. Furthermore, the company has developed an innovative solution and was able to get it patented by the US government. Proceeds from this funding will allow the company to continue the development of this solution and build out its manufacturing infrastructure. The company also works on these innovative technologies for its customers, who make everything from cellphones to flash drives. Shocking Technologies plans to have its VSD out to market in next coming months.
Based in Boulder, Colorado, Vista Ventures is a vc firm that mainly invests in early stage companies in the tech industry. The major part of Vistaâ€™s strategy is to invest in companies that have an innovative product or service which would make those companies be potential market leaders. Vista prefers to be early investors in a companies which demonstrate that their product is a â€œmust haveâ€ in the industry. Some other companies in Vistaâ€™s portfolio include DAFCA, Dante Software, Mx Logic, News Gater, Rally Software, and others.
For more information about Shocking Technologies, click here.