The Cayuga Venture Fund of Ithaca is the lead investor in a $4.1 million funding round for Intrinsiq Materials, a Rochester-area start-up developing conductive inks for the printed electronics industry, Intrinsiq announced Monday.
Part of Cayuga Venture Fund’s portion is via the Innovate NY Fund, supported by $35 million from New York state and $10 million from Goldman Sachs. It requires participating funds to make a two-to-one match with their own money. The investment also includes existing investor Trillium International, and new investment from Rand Capital SBIC Inc., The Rochester Angel Fund and individual investors. Specific amounts from each source were not disclosed.
Intrinsiq Materials inks are used in printed circuit boards, solid state lighting, photovoltaic equipment, displays, smart media, biosensors and aerospace.
“Intrinsiq Materials has innovativetechnology for manufacturing conductive nanoparticle inks at scale that are and will help to enable the next generation of products in the printed and flexible electronics industry,” Cayuga Venture Fund partner Jennifer Tegan said. “We are excited to provide our support and work with the experienced team at Intrinsiq to see it