|
Kleiner Perkins Caufield & Byers Leads the Round, Joined by all First Round Investors
ZettaCore, Inc., a developer of molecular memory technology and products for current and next-generation semiconductors, today announced that it has raised $17.5 million in Series B financing. Kleiner Perkins Caufield & Byers led this round, and was joined by previous investors Draper Fisher Jurvetson, Radius Ventures, Oxford Biosciences, Access Ventures, Garrett Capital, and Stanford University. This new funding brings the total amount raised, since the company's founding in 1999, to $23 million.
"We have looked at many ventures in nanotechnology, but have found only a few that address very large markets, and even fewer that have demonstrated a pragmatic path to realization and scale manufacturing. ZettaCore fits these criteria uniquely," said Vinod Khosla, general partner of Kleiner Perkins Caufield & Byers.
Khosla has joined ZettaCore's board of directors, which also includes Steve Jurvetson, managing director of Draper Fisher Jurvetson; Jordan Davis, managing partner of Radius Ventures; Herb Goronkin, formerly vice president and director of research at Motorola; Les Vadasz, formerly executive vice president of Intel and director emeritus of Intel; and Dr. Randolph H. Levine, ZettaCore's president and CEO.
"ZettaCore is well positioned to address the critical manufacturing needs that the semiconductor industry is about to face," said Jurvetson. "The company offers a significant improvement in memory technology, building upon more than three decades of semiconductor manufacturing processes to provide a practical and attractive means to produce the high-density memory devices of the future."
Founded by a group of molecular chemistry and semiconductor technology pioneers, ZettaCore has developed technology that will be used to create higher performance memory products, using existing semiconductor manufacturing technologies and processes. By engineering memory at the molecular level, ZettaCore will improve the capacity and performance of computing, communications and entertainment-related applications that require electronic memory.
"Securing this round of financing from the technology sector's most experienced and respected investors is a testament to our technology, business model, and outstanding team," said Levine, who is also a founder of ZettaCore. "These funds have been earmarked to help us expand our staff and facilities, as well as commercialize the first generation of molecular memory technology."
About ZettaCore
Founded in 1999, ZettaCore, Inc. is developing molecular memory technologies and products that will improve several generations of semiconductor memory. By engineering the electronic properties of molecules, ZettaCore offers the semiconductor industry a way to accelerate new product development and manufacturing. The company's technology will enable higher-density memory devices that will meet the needs of state-of-the-art consumer electronics products and computing systems. A privately held company, ZettaCore is headquartered in Denver, Colorado. For more information, visit http://www.zettacore.com.
Media Contacts:
Randy Levine
ZettaCore, Inc.
(303) 300-2900 x102
randy.levine@zettacore.com
Mary Curtis
Pacifico Inc.
(408) 293-8600 x302
mcurtis@pacifico.com
|
