Nano-Meta Technologies, a spin-out of Purdue University, has secured $1m in series A funding to develop nanoparticles that could be used to increase hard drive storage and fight cancer.
The spin-out received the funding last month from the Quantum Wave (QWave) Fund, a venture firm specialising in early-stage quantum technologies. Quantum also made simultaneous investments in Duke University spin-out Centice and Estonia-based startup Clifton, totalling $7m.
Nano-Meta will use the funding to further develop its nanoparticle technology and metamaterials. Utilising a quantum particle known as a Plasmon, the spin-out suggests that it can use the more focused beam of light that can read and write in a hard drive in much small optical bits, allowing for greater storage. In addition, gold particles measuring tens of nanometres across could be condensed into a beam of infrared light that could be used to damage cancerous tumours.
Serguei Kouzmine, managing partner at QWave Fund, said: “The potential for material sciences and physics are almost limitless, and our goal is to help the companies working in these fields scale their technology and have a major impact on their respective industries. Centice, Clifton and Nano-Meta Technologies exemplify the kind of cutting-edge companies that we want to work with and which we believe will help usher in the next technological revolution.”
