Another Stealth Deal of Q1Justin Hibbard
Time for some reader mail. Josh wrote in to point out an important stealth deal of Q1 that I overlooked. Spatial Photonics, a one-year-old San Jose, Calif. startup, raised an $8 million series A round in February from Kleiner Perkins, Intel Capital, and Middlefield Ventures. The company's board is stacked with an impressive array of heavy hitters: John Doerr and Vinod Khosla of Kleiner Perkins; Les Vadasz, former head of Intel Capital; and Roger Borovoy, former general counsel at Intel. Josh says the company is "targeting the 'light engine' opportunity currently served by Texas Instruments' digital light processing technology." Translation: it's doing something with chips that run flat-screen TVs, overhead projectors, and the like (according to Josh). Founder Shaoher Pan, Ph.D. was formerly at Applied Materials and IBM and has three U.S. patents related to etching in silicon.