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Dealipedia - Kovio receives an investment from Pinnacle Ventures...

Kovio receives a $19.5 million investment

Deal Participants:
Company: Kovio View Profile Charts Homepage
Investors: Pinnacle Ventures View Profile Add Homepage   Google Search
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Deal Financials:
Investment Amount: $ 19.5 million
Series: D
Date:
Announced: Aug 04, 2007

PRESS RELEASE - Kovio receives a $19.5 million investment

Kovio Raises $19.5 Million in First Closing of Series D
Start-Up to Commercialize Printed Silicon Electronics Technology

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Kovio, a privately held Silicon Valley company, today announced that it has raised $19.5 million in the first closing of its Series D funding round.

Led by Pinnacle Ventures, a private venture fund focused on early stage companies, the round also includes investments from Bessemer Venture Partners, Duff Ackerman & Goodrich Ventures, DEA Capital, Flagship Ventures, Harris & Harris Group, Jerusalem Venture Partners, Kleiner Perkins Caufield & Byers, NCD Investors and Yasuda Enterprise Development.

Kovio will use the funding to design, develop and commercialize printed electronic products using its proprietary printed silicon electronics technology.

"This investment by Pinnacle Ventures and our previous financial supporters validates our vision for the printed electronics industry," said Amir Mashkoori, CEO and chairman of Kovio. "With the new funds, we will be able to introduce a new semiconductor manufacturing paradigm that conventional silicon cannot match."


"We have a history of managing and financing promising startups across the technology and healthcare sectors," said Ken Pelowski, founder and managing partner of Pinnacle Ventures. "Kovio's unique technology in printed semiconductors combined with its strong management team will result in creating unprecedented products benefiting several large markets."

As the initial investor of Kovio, Kleiner Perkins also recognized the company's potential to deliver the next disruptive innovation, according to Ajit Nazre, partner of Kleiner Perkins Caufield & Byers.

"The Kovio team has come a very long way to make the dream of printed electronics a reality through painstaking scientific and engineering breakthroughs," said Nazre. "The coming year will be a groundbreaking one for the industry as Kovio commercializes its technology."

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Dec 08 '07
This version submitted by azstrik
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