University of Utah spinout Vaporsens has been acquired by Gentex for $10.5m after the corporate had already supplied $3m in equity financing.
Vaporsens, a US-based nanofiber chemical sensor technology spinout of University of Utah, has been acquired by dimmable mirrors and windows manufacturer Gentex for $10.5m.
The corporate paid $7.1m in cash, with another $3.4m in common stock. The deal closed on April 8, 2020 but was only announced today.
Vaporsens has developed a nanofiber-based sensing technology that emulates the ability to smell, allowing clients in law enforcement and the military to detect explosives and narcotics.
The company previously…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
