VCs follow Plastic Logic
A group of international venture capital firms have invested a total of £8.75m in a first round of financing for Plastic Logic, a developer of plastic electronics technology based in Cambridge.
The most recent investment of £2.45m was provided Bank of America Capital Partners, Yasuda Enterprise Development Company, Cambridge University's St John’s College and private investor Steve Kahn. This added to an earlier tranche of first round financing contributed by Amadeus Capital Partners and PolyTechnos Venture-Partners.
Plastic Logic was founded in 2000 to develop and exploit new technology and processes that combine electronics and printing. The funds raised will be used to expand the current team of 35 and speed up the company’s technology development and commercialisation.
BayTech makes fourth recent investment
BayTech Venture Capital, a Munich-based international venture capital firm funded primarily by Bayerische Landesbank, has completed its fourth investment in the past three weeks, its ninth in total since launching in 2000). BayTech committed just over E2m to Iotronics.
Iotronics, with offices in Munich and Atlanta, is a member of the Advanced Technology Development Center (ATDC) at the Georgia Institute of Technology which puts an emphasis on broadband and wireless research and development. The company develops and markets a range of automation tools for the integration of web services on IP-enabled devices. The funding will be used to further develop the company’s product base.
BayTech Venture Capital focuses on the early-stage investment of high-growth, high technology companies, with an emphasis on life sciences, information and telecommunications technologies, optical electronics and innovative technologies.
Direvo secures E10.5m in series B financining
Cologne-based biotechnology business Direvo has completed a E10.5m second round of financing. Danish-based Danisco Venture and Techno Venture Management participated as lead and co-lead investor respectively. Further investors in the round include SK Kapitalbeteiligungsgesellschaft Köln, New York-based Sanders Morris Harris and all of the company’s first round backers.
Direvo develops technologies for the development of better biopharmaceuticals, industrial enzymes, chemical biocatalysts and enzymes for food and feed. The company was established in 2000.
Wellington, Target in E6m nanotech deal
Germany-based venture capital firms Wellington Partners and Target Partners have led a E6m round of financing for NaWoTec, which has developed a process that utilises an electron beam to build complex nanostructures. NaWoTec’s technology enables electron-induced chemical processes to be pinpointed in depositing and removing materials, with a resolution of a few nanometers.
The third round of financing will be used to expand into international markets and to develop further innovations in nanoelectronics. Existing shareholder include Enjoyventure and T-Venture, which completed the transaction through its special seed fund INI-Ventures.