The funding will be used for product line and market expansion, as well as intensified materials research and development at the company’s headquarters in California’s Silicon Valley.
Additional series participants include new investor Sumitomo Corporation subsidiary Presidio STX, and existing investors Draper Fisher Jurvetson, East Gate Capital and Pacifica Fund.
Intematix CEO Magnus Ryde said that the company has experienced a 300% increase in phosphor revenues alone from last year to this. "That has quickly established Intematix as the leading supplier of merchant phosphor solutions to the solid-state lighting industry," said Ryde. "That kind of profitable growth is providing the company with remarkable leverage across all of its material discovery fronts."
Intematix uses Materials Discovery Engines, a top-down design and rapid prototyping process utilizes combinatorial techniques to synthesize very large numbers of material combinations. The result is rapid development of new, customizable material compositions that are being applied to a variety of technologies including LED and display phosphors, scintillators, IC materials and fuel cell development.
“We analyzed the LED and SSL industries long and hard to identify the key growth opportunities, and concluded that the unique material technologies inside the devices are very attractive areas for investment,” said Dave Epstein, general partner of Crosslink Capital.
Jay Eum, managing director of Samsung Ventures America said "We're very excited about the opportunities for Intematix in the SSL and display markets where we foresee major growth for years to come. The fact that Intematix is additionally positioned for wider-reaching material breakthroughs just strengthens the business case."