SAN JOSE, Calif. Kenet, MicroOptical and NanoOpto separately announced venture capital funding this week.
Kenet Inc. (Woburn, Mass.), a developer of low-power analog and mixed-signal products, has raised $10 million of venture funding in the company's Series B investment round. This extension brings the total raised by the company to $27 million since 2002. Kenet plans to use the additional capital for sales and marketing efforts and to support the formal roll-out of its product line.
The investors include Oak Investment Partners, Venrock Associates, Kopin Corporation and CP Group.
Kenet recently said that Phillip LoPresti has been named president and chief executive of the company. Mr. LoPresti, who will also serve on the Kenet board of directors, was most recently associate vice president and general manager of the Custom LSI Solutions strategic business unit at NEC Electronics America Inc.
In his position as CEO and president of Kenet, LoPresti succeeds Gerhard Sollner, who held those two offices since co-founding Kenet in 2002. Sollner will remain with Kenet as senior executive vice president.
Meanwhile, NanoOpto Corp. (Somerset, N.J.), a developer of optical components, announced the initial closing of $5 million of its Series D-round venture financing. The company has received $51 million in funding to date.
Existing equity investors include Morgenthaler Ventures, First Analysis, the Draper Fisher Jurvetson network, Harris & Harris Group, U.S. Trust's Excelsior Venture Partners III LLC, Masters Capital Nanotechnology LLC, Nanostart AG and Itochu of Japan.
MicroOptical Corp. (Westwood, Mass.) announced it has raised $11.5 million in financing. The investment round was led by Atlas Venture and included The Hillman Co., Intel Capital and Turner Broadcasting.
The funding will be used to accelerate manufacturing operations for the myvu video eyewear product, finance next generation technology development, and build out the global sales and distribution channel.
The myvu personal media viewer connects to personal, military, industrial and medical electronic devices, ranging from cell phones and media players to patient monitoring equipment and thermal weapon sights.