Harris & Harris Group, Inc., notes today that privately held Zia Laser, Inc., of Albuquerque, NM has announced that it secured an $8 million round of financing in Q1 2005. The round was led by Venrock Associates and included new investor Harris & Harris Group, Inc., as well as returning investors RWI Group and Prism Venture Partners. Zia will use this latest round of financing to further develop its quantum dot-based semiconductor laser technology for application in microprocessors. Zia's quantum dot-based lasers allow computer chips to process some of their signals optically instead of entirely electronically.
Harris & Harris Group invested $1,500,000 as its initial investment in Zia Laser, Inc.
Harris & Harris Group is a publicly traded venture capital company that now makes initial investments exclusively in tiny technology, including nanotechnology, microsystems and microelectromechanical systems (MEMS). The Company's last 24 initial private equity investments have been in tiny-technology enabled companies.
Harris & Harris Group is a business development company with 17,248,845 common shares outstanding.
Detailed information about Harris & Harris Group and its holdings can be found on its website at www.TinyTechVC.com.
This news release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this news release. Please see the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, Harris & Harris Group, Inc., undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties.