CIA’s In-Q-Tel joins investor lineup at Durham-based Semprius
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Semprius, a high-tech startup developing technology that allows semiconductors to be placed on a wide variety of surface materials, has another $6.4 million in the bank and a new high-profile investor.
In-Q-Tel, the investment arm of the Central Intelligence Agency, joined the syndicate for the B round of financing in Semprius.
Also participating is Intersouth Partners of Durham, the only local investor in Semprius. Intersouth also participated in Semprius’ $4.1 million A round last year.
Semprius is developing a new means of printing high-performance semiconductors.
In addition to its venture funding, Semprius has received grants from the National Science Foundation and the Department of Energy.
Semprius plans to use the funds to advance its patented manufacturing process which enables semiconductors to be printed onto glass, plastic or other materials for use in solar panels, liquid crystal displays, advanced disk drivers and other devices.
The company plans to wrap up development and launch field deployment of solar modules for some selected customers.
“Our current focus on photovoltaic products for solar modules represents an enormous market opportunity and we are well-positioned to take advantage of this growing need,” said Semprius Chief Executive Officer Joe Carr.
Other B-round participants include Arch Venture Partners, Applied Ventures, Illinois Ventures and new investor GVC Investment Fund.
“Semprius has made great progress over the last few years and we’re excited to continue our support of the company” said Kip Frey of Intersouth Partners, who is a member of the Semprius board. “This company is developing truly breakthrough technology for solar and other important markets.”
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