April 13, 2005 — NanoOpto Corp., a Somerset, N.J., developer of nanofabricated optical products, announced that Itochu Corp. invested $1 million in its Series C round of funding, bringing the total of the round to $13 million. The initial $12 million closing was announced on March 22.
Itochu is a leading Japanese trading company in industries spanning everything from textiles to aerospace. A NanoOpto press release said the company’s market and sales experience in the consumer electronics and communications industries in Asia will be important for NanoOpto’s product commercialization and revenue growth.
Hiroo Inoue, COO of Itochu’s IT and business solutions division, said in a prepared statement that NanoOpto’s technology has the potential to lower costs and improve the capabilities of optical circuit applications.