The Venture Codex

Led · Series D · Feb 2017

C3Nano commercializes silver nanowire (AgNW) technologies and transparent conductive inks and films for touch sensors, displays and other electronic applications. Its NanoGlue® and ActiveGrid™ technologies fuse conductive silver nanowires into high-performance conductive networks to lower sheet resistance while preserving optical transparency, low haze, and low reflectivity. The company holds more than 120 global patents (issued or pending) underpinning its electronic materials platform. Its products are used by manufacturers of mobile devices, notebook computers, tablets, large-area interactive TVs, and automotive sensor applications. Headquartered in Silicon Valley, C3Nano operates manufacturing, sales, and technical support facilities in the U.S. and Asia. The company plans to expand its Hayward, California silver nanowire synthesis and production capacity and to accelerate commercialization of its nanowire-based technologies in 2023 and beyond; it recently completed a $35M growth capital financing to support those efforts. C3Nano develops next-generation transparent conductive inks and films used by manufacturers of mobile devices, notebook computers, tablets, large-area interactive TVs and automotive sensors. The company holds more than 75 global patents (issued or pending), including multiple patents covering its NanoGlue® technology. Led by CEO Clifford Morris, C3Nano operates manufacturing, sales and technical support facilities in the U.S. and in Asia. Its core products target the touch sensor and flexible display markets. C3Nano is collaborating with investors and partners to further develop the supply-chain channel for the global flexible display market. The article does not disclose revenue or user metrics. C3Nano is a performance leader in solution-based transparent conductive inks and films for the touch sensor and display industry. Its products are positioned as direct replacements for indium tin oxide (ITO) and target OLED and flexible display markets. Founded in 2010 as a Stanford University spinout, the company is headquartered in Hayward, California, with an industry-leading manufacturing base in South Korea and sales and technical support in China and Taiwan. C3Nano closed a $15 million Series D equity financing and has raised $37 million in total equity since inception. The company will use the new funding to build manufacturing operations in China, increase capacity in South Korea, and strengthen its presence in Asia to support sales growth and global customers. The financing will also fund new technology development and innovation at its Hayward headquarters. C3Nano develops solution-coated transparent conductive materials, including its recently launched Active-grid™ product, as an alternative to indium tin oxide (ITO). Active-grid™ is positioned for high conductivity, strong optical performance, solution coat-ability, and environmental durability. The company works with global and Asia-based partners across the consumer electronics supply chain—chemical companies, converters, coaters, and device makers—and targets touch panels, thin-film PV, OLED lighting, and smart windows. C3Nano was founded in 2010 as a spinout from Professor Zhenan Bao’s Stanford lab and is headquartered in Hayward, California. The company is backed by venture capital firms and strategic corporate investors and is expanding manufacturing and R&D to support market demand and new product development. C3Nano develops a nanomaterials-based transparent conductive film used in flexible displays, touch screens, solar cells and smart windows. The technology is based on research by Dr. Melbs LeMieux and Dr. Ajay Virkar, with board member Prof. Zhenan Bao at Stanford. Founded in January 2010 and led by CEO Cliff Morris, the company is based in Hayward, California. It raised a $6.7M Series B in February 2012 and has raised in excess of $10M to date. C3Nano intends to use the funding to expand engineering capability, complete its ink product, and scale to production. In conjunction with the financing, Dr. Nobi Kambe of Phoenix Venture Partners will join the company’s board of directors.

Participated · Series D · Nov 2009

Cambrios develops ClearOhm, a silver nanowire-based transparent conductor that the company says offers higher optical and electrical performance than traditional materials such as indium tin oxide (ITO). ClearOhm ink is used to produce high-performance transparent conductive films for touch panels, displays, OLED lighting tiles, EMI shielding, ePaper and thin-film photovoltaics. The company reports recent commercial success and positions silver nanowires as the technology of choice to replace ITO in the display industry. Cambrios announced a $10M strategic investment from Samsung Venture Investment Corporation to help fuel growth and reinforce its market position. Samsung’s shareholding is described as supporting Cambrios’ ability to serve customers better and drive adoption of silver-nanowire displays and lighting. The company is headquartered in Sunnyvale, Calif., with offices in Japan and Taiwan. Cambrios Technologies Corporation develops nanotechnology-based transparent conductors marketed as ClearOhm™ for electronic devices. ClearOhm™ is sold as a coating for plastic or glass, as deposited film on PET and other substrates, or as a transfer film, and the company positions it as having superior optical and electrical performance to indium tin oxide. Applications cited include touch screens, liquid crystal displays, e-paper, OLED devices, OLED lighting and thin-film photovoltaics, and the company targets touch, display, photovoltaic and lighting consumer-electronics markets. Cambrios intends to accelerate product introductions and commercial growth across multiple consumer electronic device markets and to deepen collaboration with Samsung Group companies. Leadership was updated with John LeMoncheck named President and CEO and founding CEO Dr. Michael R. Knapp becoming Chairman. The company is based in Sunnyvale, Calif. Cambrios Technologies Corporation, based in Sunnyvale, CA, develops proprietary products using nanotechnology to simplify electronics manufacturing processes and improve end-product performance. The company works with strategic partners and distributors to commercialize its offerings for electronics and display manufacturers. Recently Cambrios completed the first closing of its Series D financing, reflecting continued institutional support. Strategic corporate relationships include Sumitomo Corporation (its Japan and Taiwan distributor), Chisso Corporation (a commercialization partner for LCD manufacturers) and Nissha Printing Co. Ltd. (a large touch‑screen manufacturer). Company leadership emphasized strong investor belief in the company’s progress and a mutual commitment to achieving collaborative business goals.