August 20, 2009
Private Investors and the Texas Emerging Technology Fund Join in a $10.7 Million Investment for Syndiant
Based in Dallas, Texas, Syndiant, the maker of the worldâ€™s smallest projector, announced today that it has received $10.7 million in series B funding from private investors and the Texas Emerging Technology Fund. Proceeds from this funding round is to go to ramp up the companyâ€™s product development on a massive scale.
Syndiant manufactures small projectors that can project a crisp and clear image using pico technology. These projectors are basically a small light emitting chip that can be installed into practically any electronic gadget ranging from cellphones to small pen-size projectors. Syndiantâ€™s proprietary technology can provide a big screen display from a tiny projector to create killer presentations from anywhere by projecting an image from a micro projector installed in a cellphone or iPhone. The possibilities are endless. With Syndiantâ€™s technology, users can project an increadibly sharp image all the way across from a room.
According to Syndiantâ€™s CEO, Mark Harward; for Syndiant to be able to secure such a large funding round in todayâ€™s difficult economy is quite an accomplishment. This funding round from the companyâ€™s investors shows that Syndiantâ€™s superior technology and astute business strategy can give out enormous potential. Mr. Howard further added that a strong balance sheet allows for the company to be able to ramp up volume sales at the same time extend its technology to the pico projector markets.
Mr. Harward further stated that the Texas Emerging Technology Fund played a crucial role in this funding round. Mr. Harward is very proud of his company having met such a major milestone to meet the criteria for an investment from the Texas Emerging Technology Fund.
One of the reasons that the Texas Emerging Technology Fund is interested in investing in Syndiant is because it has a mission to expedite the development and marketing of innovative technologies for Texas institutions of higher education.
The Texas Emerging Technology Fund or TETF is a fund that is dedicated to fund new revolutionary technologies that could be of benefit to Texas institutions. According to the TETF official website, the fund believes that good innovative hi-tech companies do not appear over night. In order to develop innovative technologies takes quite a bit of research and experimentation. Some other companies that have received commercialization awards from the TETF include Enthuze, Advitech, BiO2 Medical, Animal Innovations, Nanomedical Systems, Faradox Energy Storage, and others.
For more information about Syndiant, click here.