Dubai fund leads $30m investment in US tech firm
Investment Corporation of Dubai invests in Nanotronics to develop optical inspection technologies
US-based Nanotronics, a developer of the world's most technologically advanced automated microscope, has announced it has secured $30m in Series D funding led by Investment Corporation of Dubai (ICD).
Sovereign wealth fund ICD's portfolio includes more than 40 company investments across diverse sectors with a global footprint spanning more than 50 countries.
Following the completion of the latest financing, Nanotronics will have raised a total of $71 million, which it said will accelerate the development of the company's cutting-edge optical inspection technologies and proprietary industrial enterprise software, as well as expansion into key regions of the Asian market in 2018.
Nanotronics founder and CEO, Dr Matthew Putman, said: "Our expansion will fuel an engine of invention, and as we enable our customers to deploy better technology, Nanotronics' methods and opportunities will be further positioned at the centre of the global manufacturing network."
Khalifa Al Daboos, deputy CEO of ICD, added: "This investment reaffirms ICD's strategic commitment towards technology innovation and marks the beginning of a long term partnership with Nanotronics which we believe is playing an important role in shaping the future of advanced manufacturing and inspection across global industries."
Other Nanotronics investors include co-founder of Skype and Kazaa, Jaan Tallinn, co-founder of First Round Capital and Renaissance Technologies Howard Morgan, and media and technology mogul Kevin Wall.
Nanotronics has offices in California, Ohio, and New York.