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Business | February 01, 2012

Samsung Venture invests in Cambrios

Cambrios Technologies appoints new CEO. Receives new funding from Samsung Venture Investment Corporation.
Cambrios Technologies entered a new strategic phase today with the appointment of John LeMoncheck as President and CEO, and a $5 million Series D-3 financing round from Samsung Venture Investment Corporation. Dr. Michael R Knapp, Cambrios founding President and CEO, will become Chairman.

“Adding John to the Cambrios executive team was the culmination of an extensive search led by previous CEO and now Chairman, Michael Knapp,” said Clint Bybee, current board member and managing partner at ARCH Venture Partners, an investor in Cambrios. “We welcome John and thank Mike for his leadership of the company, and for helping us recruit a world-class CEO to propel the next phase of Cambrios’ growth.”

LeMoncheck brings extensive expertise in the technology and consumer electronics industries and in forging commercial partnerships. Most recently, as President and CEO of SiBEAM, a pioneer in 60 GHz-based millimeter wave wireless technology, LeMoncheck developed the company into a leader in multi-gigabit communications for the consumer electronics market and successfully led the acquisition of the company by Silicon Image.

“Cambrios has a unique opportunity resulting from its breakthroughs in the development of transparent conductor solutions with leading-edge optical and conductive properties,” said John LeMoncheck, Cambrios’ new president and CEO. “The company is poised to transform the touch, display, photovoltaic and lighting markets by enabling new and exciting consumer electronics applications. I look forward to working with the team to quickly make this a reality.”

Samsung Venture Investment Corporation’s investment of $5 million in series D-3 financing will be critical in the advancement of Cambrios’ objective to achieve commercial growth. Leading into this investment, Cambrios was in close discussions for collaboration on important and valuable projects with the Samsung Group over the past several years.

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