Company Adds Major Strategic Investors
WOBURN, Mass. (May 28, 2013) – Nantero, Inc., the nanotechnology company pioneering the use of carbon nanotubes in the development of next-generation semiconductor devices, today announced the second closing of its Series D financing round. The second closing included new strategic corporate investors. One of those investors is Schlumberger, the world’s leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide. The round also included new Advisory Board member Michael Raam. Mr. Raam was most recently the CEO of SandForce, Inc., the successful SSD controller company and then VP/GM of the Flash Components Division for LSI after LSI acquired SandForce. This latest closing brings the total for Series D to over $15M.
“Given my experience with nonvolatile memory, I immediately saw that Nantero’s memory could transform the industry,” said Michael Raam, new Advisory Board member for Nantero. “This disruptive potential has been validated by the many partners who have chosen to work with Nantero on commercial development.”
Greg Schmergel, co-founder and CEO of Nantero, Inc., added, “We are pleased to be working with two more world leaders in their markets as we move closer to commercializing NRAM® for multiple applications.”
About Nantero
Nantero is a nanotechnology company using carbon nanotubes for the development of next-generation semiconductor products. Nantero’s main focus is the commercial introduction of NRAMTM –a high-density nonvolatile random access storage device. NRAMTM will ultimately replace all existing forms of storage, such as DRAM, SRAM and flash memory, with a high-density nonvolatile RAM – ‘universal memory.’ The applications for the nonvolatile RAM Nantero is developing add up to over $100B in revenue potential, including the ability to enable instant-on computers and to replace the memory in devices such as cell phones, MP3 players, digital cameras, and PDAs, as well as applications in the networking arena. NRAMTM can be manufactured for both standalone and embedded memory applications. Nantero is also working with licensees on the development of additional applications of Nantero’s core nanotube-based technology. For more information on Nantero, Inc. please visit www.nantero.com or email info@cn.nantero.com
About Schlumberger
Schlumberger is the world’s leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide. Employing more than 118,000 people representing over 140 nationalities and working in approximately 85 countries, Schlumberger provides the industry’s widest range of products and services from exploration through production.
Schlumberger Limited has principal offices in Paris, Houston and The Hague, and reported revenues of $42.15 billion in 2012. For more information, visit www.slb.com.
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