NEW YORK, Dec. 3, 2012 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (Nasdaq:TINY), an early-stage, active investor in transformative nanotechnology companies, notes the announcement by Nantero, Inc., that it has closed a Series D round of financing for over $10 million. The oversubscribed round was led by two new strategic corporate investors currently engaged in strategic development and partnerships with Nantero. The round also includes existing investors, including Charles River Ventures, Draper Fisher Jurvetson, Globespan Capital Partners, Stata Venture Partners and Harris & Harris Group. This latest round of funding comes as the company transitions from development to commercialization of its next-generation memory, NRAM™, and licensees begin to bring Nantero's technology to market.
During the past year, Nantero has entered into multiple partnerships with major corporations planning to commercialize NRAM. In addition to these commercial partnerships, Nantero also has a partnership with Imec, a research institution in nanoelectronics, which is focusing on developing Nantero's carbon-nanotube-based memory for high-density, next-generation memories with a size less than 20nm.
"As an original investor in Nantero, we continue to appreciate and be impressed by the company's focus on developing value-add relationships with global corporations. We are pleased to continue to support the company through further investment, and we congratulate the company on its round of financing," said Douglas W. Jamison, CEO of Harris & Harris Group. Nantero's press release may be accessed at http://www.nantero.com/pdf/Nantero_Press_Release_Series_D_112912.pdf.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com.
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including, but not limited to, the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The references to the websites www.HHVC.com and www.nantero.com have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Harris & Harris Group is not responsible for the contents of third party websites.
CONTACT: DOUGLAS W. JAMISON TEL. NO. (212) 582-0900Source:Harris & Harris Group