Round Led by Crosslink Capital and Samsung Ventures
Fremont, California, USA – November 20, 2006 – Material discovery expert, Intematix Corp, best known for its solid state lighting and display phosphors, today announced that it has raised $16.5 million in a series C venture capital financing round led by Crosslink Capital and Samsung Ventures. Additional series participants include new investor Sumitomo Corporation subsidiary Presidio STX, and existing investors Draper Fisher Jurvetson, East Gate Capital and Pacifica Fund. The funding will be used for product line and market expansion, as well as intensified materials research and development at the company’s headquarters in California’s Silicon Valley.
“We’ve experienced a 300% increase in our phosphor revenues alone from last year to this, quickly establishing Intematix as the leading supplier of merchant phosphor solutions to the solid state lighting industry. That kind of profitable growth is providing the company with remarkable leverage across all of its material discovery fronts,” commented Intematix CEO Magnus Ryde. The ability to flexibly customize materials is achieved using Intematix’ Materials Discovery Engines. This top-down design and rapid prototyping process utilizes combinatorial techniques to synthesize very large numbers of material combinations. This synthesis, and the characterization process that follows, is massively parallel in nature, greatly reducing the iterations required for discovery. The result is rapid development of new, customizable material compositions that are being applied to a variety of technologies including LED and display phosphors, scintillators, IC materials and fuel cell development.
Intematix’ lead investors Dave Epstein, general partner of Crosslink Capital and Jay Eum, managing director of Samsung Ventures America, have made it clear by this investment that they recognize the world-changing impact that is being predicted for the LED and solid state lighting industries.
“We analyzed the LED and SSL industries long and hard to identify the key growth opportunities, and concluded that the unique material technologies inside the devices are very attractive areas for investment,” explained Mr. Epstein of Crosslink. “In Intematix, we see a company that is positioned for the kind of materials discovery that enables the geometric technology progress predicted by Moore’s and Haitz’s Laws.”
Moore’s Law, coined by Intel founder Gordon Moore, is often broadly applied to the rapid pace of technology development with its prediction of a doubling of computer processing power being achieved in 18 months intervals. The LED equivalent is known as Haitz’s Law, posited by retired Agilent researcher Dr. Roland Haitz, which has accurately predicted a doubling of LED brightness every 18 to 24 months.
According to Samsung Ventures America’s Mr. Eum, “SVIC consistently focuses on companies that we expect will not only reward our investors with financial returns, but that will also provide them with technological returns that compliment their individual business models. We’re very excited about the opportunities for Intematix in the SSL and display markets where we foresee major growth for years to come.” Mr. Eum added, “The fact that Intematix is additionally positioned for wider-reaching material breakthroughs just strengthens the business case.” Intematix CEO Ryde concluded, “It is an honor to partner with visionaries of the type represented by Dave Epstein and Jay Eum, and their organizations. When the available resources, technology portfolio and market potential converge, as they have here with Intematix, we can all look forward to the rapid revenue growth that results.”
About Intematix Corp.
Intematix Corp. specializes in next generation nano, bulk & thin film materials. Leveraging its ultra rapid material development and proprietary tools and processes, the company discovers and optimizes materials in a fraction of the time typical for conventional methods. Intematix offers production availability of key patent-backed phosphors for the solid state lighting and imaging markets, from its Fremont, California, facility. For more information, visit http://www.intematix.com.
About Crosslink Capital
Founded in 1989, Crosslink Capital is a leading multi-stage technology venture capital and growth equity firm with over $1 billion in capital under management. Crosslink was the one of the first investment firms in the U.S. to integrate public and private technology investing. This strategy allows Crosslink to partner with its portfolio companies on a long-term basis. With more than 17 years behind it, Crosslink Capital has invested in over 90 companies, including such industry leaders as Equinix (Nasdaq: EQIX), Force10 Networks, Magma Design Automation (Nasdaq: LAVA), Miller Heiman and Virage Logic (Nasdaq:VIRL). For more information visit http://www.crosslinkcapital.com.
About Samsung Ventures America
Samsung Ventures America manages US investment and investment-related activities for Samsung Electronics and Samsung Venture Investment Corporation from local offices in San Jose, California. The investment mandate for Samsung Ventures America tracks closely to the strategic priorities of Samsung Electronics’ core operating divisions, and encompasses investments in semiconductors, displays, telecommunications, and consumer electronics. Samsung Ventures America is currently actively investing in leading technology companies from a $400 million fund.
Round Led by Crosslink Capital and Samsung Ventures