PlanarMag Inc., a developer of electromagnetic components for the computer, data networking and telecom markets, has raised first-round funding from American River Ventures. No financial terms were disclosed, although VentureWire places the round amount at $1.5 million.
American River Ventures (ARV), an early-stage venture capital firm that focuses on new technologies which support a sustainable future through energy efficiency, energy intelligence and advanced materials, today announced that it has closed a seed investment in PlanarMag, Inc., a developer of electromagnetic components for the computer, data networking and telecommunications industries. In conjunction with the initial seed investment, Harry Laswell and Barbara Grant, ARV Managing Directors, joined PlanarMag's Board of Directors. The initial funding will support the growth of the company as it focuses on product development and hiring of key employees.
PlanarMag's technology was developed by a cross disciplinary team that includes Professor Anh-Vu Pham of
“PlanarMag is another example of a company innovating by leveraging UC Davis as a source for incredible technologists,” stated Harry Laswell of American River Ventures. “Based on PlanarMag's innovative technological approach, we believe the company is well positioned to grab a large share of a billion dollar electromagnetic component market.”
PlanarMag is the second company that American River Ventures has funded and helped build that has utilized technologists from UC Davis. In 2006, ARV funded SynapSense, which was co-founded by Dr. Raju Pandey, an Associate Professor with the Department of Computer Science at UC Davis, and Peter Van Deventer, a former Intel executive and established veteran of global technology market development.
“We are pleased to see innovative companies in our area being built, especially companies that have a research link to the university,” stated Barry Klein, Vice Chancellor for Research for
As President and CEO of PlanarMag,
As the Chief Technology Officer for PlanarMag, Anh-Vu Pham is instrumental in establishing the intellectual property upon which the company was created. At the
American River Ventures is an early-stage venture capital firm that focuses on emerging companies that provide a platform for a sustainable future through energy efficiency, energy intelligence and advanced materials. Founded in May of 2001, the firm offers entrepreneurs direct experience in the day-to-day realities of building great companies. American River Ventures' general partners have a solid blend of operating and management experience in both corporate and start-up environments – – they have been directly responsible for successfully starting or running companies, developing new products, and growing companies into attractive acquisitions. Located in Sacramento, California, American River Ventures has $100 million under management. For more information, visit www.arventures.com or call 916-780-2828.