Nanosys nabs $30 million in funding

Michael Kanellos
Michael Kanellos Staff Writer, CNET News.com
Michael Kanellos is editor at large at CNET News.com, where he covers hardware, research and development, start-ups and the tech industry overseas.

Nanosys, which is angling to become a dominant player in intellectual property licensing in nanotechnology, announced on Thursday that it has obtained $30 million in the first portion of its second round of financing. The Palo Alto, Calif.-based company is essentially working on ways to create chemical sensors, solar cells and other devices out of strands of molecules. The company expects to license the technology to industrial manufacturers or pharmaceutical companies. Nanosys anticipates the round to close in the next 60 days.

Investors in the company include venture pioneer Venrock Associates, Taiwanese notebook manufacturer Quanta, Lux Capital, SAIC Venture Capital and China Development Industrial Bank. Nanosys has raised a total of $60 million.