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Nanotechnology - Thursday, March 10, 2005

Nantero - Profile

HQ: Woburn, MA.

Founded: 2001

Management: President & CEO is Greg Schmergel. He was most recently an SVP for About.com. Curiously, he has no chip or nanotech industry experience. Co-founder is Dr. Thomas Rueckes - he brings the scientific cred. Rueckes completed his PhD at Harvard University in the Department of Chemistry and invented the company's core technology.

Investors: Raised $15MM Series B from Charles River Ventures, Draper Fisher Jurvetson, Stata Venture Partners, Harris & Harris Group. This brings total investment to $31.5MM, according to company press releases.

Business Model: Nanotechnology company using carbon nanotubes for the development of next-generation semiconductor devices. Devices include memory, logic, and other semiconductor products. Core technology is called NRAM™, a high-density nonvolatile Random Access Memory. The company's objective is to deliver a product that will replace all existing forms of memory, such as DRAM, SRAM and flash memory, with NRAM™. LSI Logic and aerospace company BAE Systems have licensed the technology.

Competitors: ZettaCore

Dirt: The fact that CEO Greg Schmergel is NOT a chip geek may actually benefit Nantero. If nanotech companies have to be good at anything, it's selling a long-term vision. Schmergel's background as a corporate strategist and consultant presumably qualifies him to tell the VCs a compelling story. They seem to be listening. The commercialization of nanotech applications is a holy grail for inventors and investors alike.