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For Immediate Release
Phone: + 1 (630) 587-6476
NanoOpto Corporation Marks 5th Year Anniversary With New Funding
and New Executive Appointment
Company Announces Initial Closing on D-Round Venture Financing and
Appointment of Kenneth W. McCauley as Vice President, Sales and Marketing
Somerset, New Jersey. June 19, 2006. NanoOpto Corporation, which is applying novel design methods and proprietary nano-fabrication technology to produce a broad range of unique optical components that enable higher quality, low-cost optical components and systems, today announced the initial closing of $5 million of its Series D-round venture financing. The funding by the full team of NanoOpto’s venture investors brings to $51M the total investment in NanoOpto to date.
The Series D closing comes as NanoOpto celebrates its fifth anniversary and successful commercialization of nanotechnology, particularly within the consumer electronics and communications industries. It also coincides with NanoOpto’s appointment of Kenneth W. McCauley as Vice President of Sales and Marketing. Mr. McCauley brings more than 25 years of experience in engineering, sales, business development, and marketing to NanoOpto, along with an impressive record of achievement in developing business in consumer electronics and telecommunications. His appointment is enabling NanoOpto to build sales momentum in Asia, a critical market to the company.
“In five years, NanoOpto has gone from a nascent, ground-breaking innovator to a maturing company focused on operations and very solidly in the revenue growth stage,” says Barry Weinbaum, President and CEO of NanoOpto Corporation. “We are one of only a few nanotechnology companies anywhere in the world to achieve successful commercialization, and our investors see our potential. Adding Ken McCauley to the management team at this time will be key to our success. He has strong credentials in our core markets, and a string of successes in developing business across Asia and the Pacific Rim.”
Mr. McCauley began his career at AT&T Microelectronics in process and applications engineering, moving into marketing, international business development, and sales roles that included expatriate experience in Hong Kong and Japan. Prior to joining NanoOpto, Mr. McCauley was Vice President of Business Development at International Quantum Epitaxy, where he diversified the customer base and grew the business to profitability. As Vice President of Worldwide Sales at Anadigics, Mr. McCauley built a field sales team and grew the Asia/Pacific region from a small base to the company’s largest sales region. While at Lucent Microelectronics, he built a global sales team in the telecom and wireless market segment, successfully selling to leading customers in that space. Mr. McCauley holds a BS in Chemical Engineering from Bucknell University, and an MBA from the University of Richmond.
NanoOpto received its initial venture financing in February 2001, and broke ground on its own fab that September. Just months later, in March 2002, the company achieved general sampling status on select optical subcomponents. In January 2003, NanoOpto’s nano-fabrication facility was the first of its kind to realize ISO 9001:2000 registration. By 2005, NanoOpto realized full volume production, with its unique optical devices being incorporated into consumer electronics products and fiber optics communications networks.
Existing equity investors include: Morgenthaler Ventures; First Analysis; the Draper Fisher Jurvetson (DFJ) network (including DFJ Gotham Ventures and DFJ New England Ventures); Harris & Harris Group; U.S. Trust’s Excelsior Venture Partners III, LLC; Masters Capital Nanotechnology, LLC; Nanostart AG; and Itochu of Japan.
NanoOpto Corporation is applying proprietary nano-fabrication technology to the design and high-volume manufacture of nano-optic devices for optical components and systems. The company’s nano-meter scale optical function design capability, combined with wafer-based manufacturing methods, delivers optical components that allow more rapid prototyping, higher performance, and lower overall system cost. Both independently and with industry partners, NanoOpto uses its technology to produce superior versions of standard optical components and new classes of integrated optical subassemblies for both custom and general applications. The company has received financial backing from leading venture capitalists, and is based in Somerset, New Jersey. For additional information about NanoOpto, visit www.nanoopto.com.
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