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DFJ VTB Capital Aurora leads Series A round in SmS Tenzotherm GmbH


Tags: venture capital

Apr 5, 2012
SmS Tenzotherm GmbH announced today it has received Series A funding from DFJ VTB Capital Aurora Innovation & Nanotechnology Fund.

SmS Tenzotherm GmbH commercializes the unique results of extensive R&D at the Laboratory of Rare-Earth Semiconductors in the Ioffe Physical Technical Institute of the Russian Academy of Sciences. The Company will be producing proprietary sensors for strain and deformation and is involved in developing non-Seebeck thermoelectric generators (TEG) based on rare-earth semiconductor samarium-sulphide (SmS). The Company started operations in 2009 and was previously funded by business angels.

The new investment capital will be used to set up the pilot line in Dortmund and the R&D-center at the Abram F. Ioffe Institute in St. Petersburg.

Aidar Kaliev, Global Head of Venture Capital at VTB Capital, said: “We are in no doubt that this cutting-edge Russian technology will rapidly penetrate multibillion international markets of tenzosensors and TEGs. Bernd Meyer, the company’s CEO, was previously involved with Innolume and OptoGaN, and played a significant role in their success. The team includes highly-reputable scientists from both Russia and Germany who are well-known specialists in the semiconductor area. Having such a strong team we believe in success of the company on the international markets of tenzosensors and TEGs in coming years”.

Bernd Meyer, CEO of SmS, said: “From my experience as CEO of various Russian-German high-tech start-ups, the combination of Russian Science and German Infrastructure is a very promising and a solid platform for successful business development. Now with a pragmatic and experienced Investor VTB Capital that works in cooperation with Draper Fisher Jurvetson, one of the top venture firms in the world, I am confident that we will match our development objectives and make SmS Tenzotherm a new international success story in Russian-German best practice. We are currently installing the pilot line in Dortmund which will be supported by our R&D-center at the Ioffe Institute in St. Petersburg”.

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