Nantero Secures Second Closing of Series D From $10 to $15 Million With Schlumberger

Nantero, Inc., the nanotechnology company pioneering the use of carbon nanotubes in the development of next-generation semiconductor devices, announced the second closing of its series D financing round.

The second closing included new strategic corporate investors. One of those investors is Schlumberger Ltd, the world’s leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide.

The round also included new advisory board member Michael Raam, most recently CEO of SandForce, Inc., the  SSD controller company and then VP/GM of the flash components division for LSI after LSI acquired SandForce.

This latest closing brings the total for series D to over $15M.

"Given my experience with nonvolatile memory, I immediately saw that Nantero’s memory could transform the industry," said Raam. "This disruptive potential has been validated by the many partners who have chosen to work with Nantero on commercial development."

Greg Schmergel, co-founder and CEO of Nantero, added: "We are pleased to be working with two more world leaders in their markets as we move closer to commercializing NRAM for multiple applications."

Schlumberger is the world’s leading supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide. Employing more than 118,000 people representing over 140 nationalities and working in approximately 85 countries. It has principal offices in Paris, Houston and The Hague, and reported revenues of $42.15 billion in 2012.

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