Durham, NC - Semprius, Inc., a semiconductor technology company developing a novel transfer printing technology for the manufacture of advanced semiconductor devices, announced it has closed a $4.1 million round of venture funding.
The financing was co-led by ARCH Venture Partners and Intersouth Partners. Seed investor Illinois VENTURES, which helped found the company, also participated in the financing. Semprius was founded in 2005 with technology initially developed at the University of Illinois, led by Dr. John Rogers in the Department of Materials Science and Engineering. The funding will be used for product development and business development.
"We are pleased to have Intersouth and ARCH join us in building this company," said Joe Carr, President and CEO of Semprius, Inc. "As we develop our technology and begin to address a number of large market opportunities, we recognize the importance of having strong financial partners with experience in our sector."
"We're eager to work with the Semprius team," said John Glushik of Intersouth Partners. "This technology was developed by recognized scientific leaders in the semiconductor field, and the company is led by a CEO with extensive industry experience."
Semprius' technology enables the placement of a high performance semiconductor onto any substrate or target wafer, greatly broadening the options available to designers of advanced semiconductor devices. For many existing designs, the technology can enable a manufacturing process that is faster and far less expensive. It can be applied to a number of markets, including electronic displays, solar cells and wireless devices.
"Semprius' unique and proprietary technology has the potential to revolutionize the way that semiconductor circuits are manufactured, enabling markets that heretofore have not been addressed," said Clint Bybee of ARCH Venture Partners. "We look forward to building an exciting company."
About Semprius, Inc.
Semprius, Inc. is commercializing a newly invented process for printing high performance single crystal semiconductors on any substrate, including glass, plastic and other semiconductor materials. Initial applications of the technology include high frequency radio frequency semiconductors for mobile communications, TFT backplanes for flat panel displays and flexible digital X-ray detectors. The company's technology recently received top honors from the Wall Street Journal Technology Awards within the Semiconductor sector and by MIT Technology Review magazine as one of the top ten emerging technologies of the year. For more information, please visit http://www.semprius.com.