Samsung shores up Nanosys
Samsung has thrown its weight behind a nanotechnology start-up that manufactures nano-engineered materials for lighting and digital displays. Nanosys hopes the multi-million dollar investment will allow it to accelerate development for commercial applications.
Under the terms of the deal, Samsung Electronics will contribute funding and resources to co-develop products using Nanosys technologies, in addition to $15 million (€11.5 million) equity investment from the affiliated Samsung Venture Investment Corporation.
“We believe that working closely with Nanosys will help us to develop exciting new products for our customers that will address needs in the world’s largest markets across a number of technologies,” said Seungho Ahn, senior vice president of the Intellectual Property Center, Samsung Electronics.
Samsung’s equity investment will come from Samsung Venture Investment Corporation, with at least an additional $10 million in total from previous venture capital investors including Arch Venture Partners, El Dorado Ventures, Polaris Venture Capital and V enrock.