Dubai’s sovereign wealth fund has invested in Nanotronics, a US-based developer of what is claimed to be the world’s most technologically advanced automated microscope, it announced October 3.
According to a statement, Nanotronics has raised $30 million in Series D funding led by Investment Corporation of Dubai (ICD) and with participation from a current investor, Founders Fund.
Nanotronics was founded in 2010 by Matthew Putman, Ph.D. and has offices in California, Ohio, and New York.
In all, with this new investment, Nanotronics has raised a total of $71 million, funds it will use to accelerate the development of its optical inspection technologies and proprietary industrial enterprise software, as well as to expand into key Asian markets in 2018.
Nanotronics’ product is targeted at scientists and engineers and for use in manufacturing supply chains for everything from MEMs and semiconductors to aerospace hardware, nano-medicine, and DNA sequencing and storage.
Its customers include Broadcom, ST Micro, IQE, II-VI, Soraa, Applied Optoelectronics, and many others.
Nanotronics’ claims that its product allows manufacturers to rapidly implement design and process changes, increase yields and process control, and reduce scrap and costs.
“Consumers have access to better algorithms in their smartphones than you will find inside most of the factories that make what we consume. That gap is an opportunity. Nanotronics is seizing it,” said Founders Fund partner and Facebook, Palantir, and Nanotronics Board Director, Peter Thiel.
With the investment, ICD will be joining other existing Nanotronics investors: Jaan Tallinn, co-founder of Skype and Kazaa; Howard Morgan, co-founder of First Round Capital and Renaissance Technologies; and Kevin Wall, a media and technology mogul.
Established in 2006, ICD’s portfolio currently includes more than 40 company investments across sectors in more than 50 countries.