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$16.5M funding fuels Intematix' LED, SSL agenda

Posted: 23 Nov 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Intematix? Crosslink Capital? Samsung Ventures? LED? LEDs?

Intematix Corp. has raised $16.5 million in a series C venture capital financing round led by Crosslink Capital and Samsung Ventures. The funding, Intematix reported, will drive its product line and market expansion, as well as intensified materials R&D at the company's headquarters in Silicon Valley.

"We've experienced a 300 percent increase in our phosphor revenues alone from last year to this, quickly establishing Intematix as the leading supplier of merchant phosphor solutions to the solid state lighting (SSL) industry," said Magnus Ryde, Intematix CEO. "That kind of profitable growth is providing the company with remarkable leverage across all of its material discovery fronts."

The ability to flexibly customize materials is achieved using Intematix' Materials Discovery Engines, which utilize combinatorial techniques to synthesize very large number of material combinations. The resulting materials are then applied to various technologies including LED and display phosphors, scintillators, IC materials and fuel cell development.

Intematix' lead investors Dave Epstein, general partner of Crosslink Capital and Jay Eum, managing director of Samsung Ventures America, have made it clear by this investment that they recognize the world impact predicted for the LED and solid state lighting industries.

"We analyzed the LED and SSL industries long and hard to identify the key growth opportunities, and concluded that the unique material technologies inside the devices are very attractive areas for investment," said Epstein. "In Intematix, we see a company that is positioned for the kind of materials discovery that enables the geometric technology progress predicted by Moore's and Haitz's Laws."

Notes Samsung Ventures' Eum, "SVIC consistently focuses on companies that we expect will not only reward our investors with financial returns, but that will also provide them with technological returns that compliment their individual business models. We're very excited about the opportunities for Intematix in the SSL and display markets where we foresee major growth for years to come. The fact that Intematix is additionally positioned for wider-reaching material breakthroughs just strengthens the business case."

Meanwhile, additional series participants included new investor Sumitomo Corp. subsidiary Presidio STX, and existing investors Draper Fisher Jurvetson, East Gate Capital and Pacifica Fund.

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