ITU Ventures

ITU Ventures is an investment firm focused on supporting technology businesses that emerge from prominent universities, research institutions, and corporations. The firm primarily targets startup companies located in California, New Mexico, and the Midwest region of the United States. ITU Ventures specializes in investing within the software, semiconductor, and commercial product sectors, aiming to nurture innovative ventures that have the potential for significant growth and impact. Through its strategic investments, ITU Ventures seeks to foster the development of cutting-edge technology and drive advancements in various industries.

Andrew Murray

Principal

22 past transactions

Luxtera

Series D in 2008
Luxtera, Inc. is a leading developer of silicon photonics technology, specializing in the design and manufacturing of optical modules for data centers and mobile infrastructure. Founded in 2001 and headquartered in Carlsbad, California, the company has pioneered the integration of high-performance optics directly with silicon electronics on a CMOS chip, facilitating direct "fiber to the chip" connectivity. Luxtera's innovative approach combines the long reach capabilities of single-mode fiber with the cost-effectiveness of integrated optoelectronics to produce advanced optical transceivers that significantly enhance high-speed optical communications. As a fabless semiconductor company, Luxtera's products are designed to deliver low-cost, high-volume optics solutions with improved performance and reliability. In December 2018, Luxtera was acquired by Cisco, marking a significant milestone in its growth and development within the telecommunications and semiconductor industries.

XAware

Series C in 2008
XAware is a provider of open-source data integration solutions that focuses on creating composite data services. The company offers a suite of tools, including XAware Designer, an Eclipse plug-in that facilitates the design, testing, and deployment of standards-compliant web services and data integration applications. Additionally, XAware provides the XAware Engine, which operates and manages concurrent web services, along with various connectors and adapters. Its solutions empower users to access and integrate data with applications and business processes effectively. By transforming data into reusable services, XAware enables real-time integration in service-oriented architectures, rich Internet applications, and software as a service environments, leveraging established technical and industry standards.

Holochip

Series A in 2007
Holochip Corporation specializes in the development and manufacturing of adaptive polymer lenses (APL) that allow users to manipulate light effectively. Established in 2002 and headquartered in Albuquerque, New Mexico, with an additional office in Hawthorne, California, the company provides OEM zoom lens modules tailored for camera manufacturers, as well as adaptive singlet lenses designed for optical research and engineering applications. Holochip's products are utilized across various sectors, including military, medical, and automotive industries. Additionally, its adaptive polymer lenses play a significant role in virtual reality and augmented reality headsets, featuring dynamic accommodation that enhances user control over the lens interface and behavior.

Comet Solutions

Series A in 2007
Comet Solutions, Inc., established in 2001, specializes in developing software applications that streamline engineering simulations. Headquartered in Cincinnati, Ohio, with additional offices globally, the company offers SimApps designed to automate modeling and simulation tasks, enabling users to evaluate design changes, collaborate across teams, and deploy practices to non-experts. Their products include Gearbox SimApps for performance optimization and a SimApp Authoring Workspace platform for CAE/simulation process automation. Comet Solutions serves industries such as space systems, consumer products, electronics, and automotive, providing services like training and consulting in addition to their software offerings. As of September 2018, the company operates as a subsidiary of Aras Corporation.

Chip Estimate

Venture Round in 2006
Chip Estimate Corporation is an electronic design automation company headquartered in Cupertino, California. Founded in 2003, it specializes in providing integrated chip project planning solutions to the electronics and semiconductor design communities through its ChipEstimate.com portal. The company develops and markets the InCyte chip estimation systems, which integrate intellectual property (IP) and manufacturing process models to facilitate accurate chip estimations. Its offerings include InCyte Lite, designed for project feasibility analysis during the early architectural stage, and the InCyte Enterprise system, which generates refined chip specifications and customized estimations tailored to corporate requirements. Additionally, Chip Estimate provides enterprise-level IP reuse management solutions and a range of resources, including verification IP and semiconductor IP, to support design professionals. The company was previously known as Giga Scale Integration Corporation and became a subsidiary of Cadence Design Systems in 2008.

XAware

Series B in 2006
XAware is a provider of open-source data integration solutions that focuses on creating composite data services. The company offers a suite of tools, including XAware Designer, an Eclipse plug-in that facilitates the design, testing, and deployment of standards-compliant web services and data integration applications. Additionally, XAware provides the XAware Engine, which operates and manages concurrent web services, along with various connectors and adapters. Its solutions empower users to access and integrate data with applications and business processes effectively. By transforming data into reusable services, XAware enables real-time integration in service-oriented architectures, rich Internet applications, and software as a service environments, leveraging established technical and industry standards.

g8wave

Series A in 2006
8Wave, a Boston-based provider of a technology platform for marketing through mobile phone networks.

Comet Solutions

Series A in 2006
Comet Solutions, Inc., established in 2001, specializes in developing software applications that streamline engineering simulations. Headquartered in Cincinnati, Ohio, with additional offices globally, the company offers SimApps designed to automate modeling and simulation tasks, enabling users to evaluate design changes, collaborate across teams, and deploy practices to non-experts. Their products include Gearbox SimApps for performance optimization and a SimApp Authoring Workspace platform for CAE/simulation process automation. Comet Solutions serves industries such as space systems, consumer products, electronics, and automotive, providing services like training and consulting in addition to their software offerings. As of September 2018, the company operates as a subsidiary of Aras Corporation.

Authenticlick

Series A in 2006
Authenticlick is a web analytics company specializing in web traffic quality intelligence solutions for online advertising optimization. Authenticlick aims to drive greater transparency in the search and display advertising market through a standardized quality scoring system and powerful web traffic quality reporting and analysis tools. Authenticlick's analysis platform and scoring methodologies enable advertisers to obtain a unique view of the quality of their web traffic and take actions to dramatically improve conversion and return on ad spend.

Pivotal Systems

Series B in 2006
Pivotal Systems Corporation specializes in designing, developing, manufacturing, and selling gas flow controllers for the semiconductor industry, primarily serving markets in Asia and North America. Founded in 2003 and headquartered in Fremont, California, the company offers a technology platform that includes gas flow controllers, monitors, and sensors, which facilitate real-time monitoring and control of critical parameters in wafer processing. By leveraging advanced machine learning, Pivotal Systems enhances preventive diagnostics, significantly improving productivity and capital efficiency in semiconductor fabrication. Its customer base comprises integrated device manufacturers, foundries, and original equipment manufacturers, with a notable revenue concentration in the Asia region.

Penthera

Series A in 2006
Penthera, established in 2005 and headquartered in Pittsburgh, Pennsylvania, is a software company specializing in portable video solutions. It develops and deploys software tools that facilitate the transfer of video content from the cloud to mobile and IP-enabled devices, ensuring offline viewing. Penthera's flagship product, Cache&Carry, manages large video downloads from the cloud to smartphones and tablets, allowing users to watch content anytime, even without network connectivity. The company serves television networks, content distributors, network operators, and device manufacturers, enhancing the mobile video experience and reducing stream abandonment.

Agility Design Solutions

Series B in 2005
Agility Design Solutions, Inc. develops software tools that shorten the time to design, verify, and implement signal processing algorithms. The company offers solutions for algorithm acceleration, prototyping, and implementation in software and hardware. Its products include RMS, which improves the execution speed of MATLAB programs; MCS, which automatically synthesizes MATLAB code to C code; MCS Function Library, which includes functions that are synthesized using MCS to generate ANSI-C source; DK Design Suite, a design environment for C-based algorithmic design entry, simulation, and synthesis; RC Series Platforms, a family of FPGA-based rapid prototyping/development boards; and PixelStreams Imaging Library, which includes IP cores for digital image and video processing. The company also offers training, support, and algorithm implementation consulting services. It serves customers in various fields, including video analysis, image recognition, and wireless and wired communications. The company markets and sells its products through direct sales channels and local distributors in North America, Asia, and Europe. Agility Design Solutions, Inc. was formerly known as Catalytic, Inc. and changed its name to Agility Design Solutions, Inc. in January, 2008. Agility Design Solutions, Inc. was founded in 2001 and is headquartered in Palo Alto, California with additional offices in Austin, Texas; Abingdon, England; and Yokohama, Japan.

Coled Display Technology

Series A in 2005
COLED, a super energy conservation technology for display application. They currently have patents filed in USA, China, Japan, Korea and internationally. This is a game-changing technology that will correct the existing problems of OLED and other display technology. COLED technology provides the sunlight readable screens to users, who will no longer need to charge their cell phones on a daily basis. In addition, they provide simple structures that will enable display manufacturers to save 30 - 35% in manufacturing costs. This will ultimately pass the cost-saving benefits to consumers. COLED Display Technology Inc, formed a collaboration with SRI to co-develop this great technology and they anticipate to complete the single color prototypes in 12 months and the full color prototypes in 18 months. They are seeking financial and strategic partners to commercialize this game-changing technology with a global market growing to $160+ billion in 2017.

Dynamic Organic Light

Series A in 2005
Dynamic Organic Light, Inc. develops novel organic materials for use in next generation flat panel displays, solar cells, and solid state lighting. Dynamic Organic Light, Inc. was formerly known as COLED Technologies Incorporated till 2006. The company was founded in 2003 and is based in Longmont, Colorado.

XAware

Series B in 2004
XAware is a provider of open-source data integration solutions that focuses on creating composite data services. The company offers a suite of tools, including XAware Designer, an Eclipse plug-in that facilitates the design, testing, and deployment of standards-compliant web services and data integration applications. Additionally, XAware provides the XAware Engine, which operates and manages concurrent web services, along with various connectors and adapters. Its solutions empower users to access and integrate data with applications and business processes effectively. By transforming data into reusable services, XAware enables real-time integration in service-oriented architectures, rich Internet applications, and software as a service environments, leveraging established technical and industry standards.

Catalytic

Series A in 2004
A Palo Alto, Calif.-based provider of software designed to increase DSP application productivity

PowerSicel

Series A in 2003
PowerSicel, Inc. is a Boulder, Colorado based company that was spun off from the University of Colorado and Astralux, Inc. in 2001 with a mission to commercialize enabling SiC power electronics with significant performance and cost enhancements over both conventional and future technologies. PowerSicel was seed funded by ITU Ventures and subsequently raised additional capital from both ITU Ventures and Digital Power Capital.

Hier Design

Series B in 2003
Hier Design Inc. develops, markets, and supports hierarchical floor planning and analysis software for design of ultra deep sub-micron, multi-million gates, and Field Programmable Gate Arrays (FPGA).

XAware

Series A in 2002
XAware is a provider of open-source data integration solutions that focuses on creating composite data services. The company offers a suite of tools, including XAware Designer, an Eclipse plug-in that facilitates the design, testing, and deployment of standards-compliant web services and data integration applications. Additionally, XAware provides the XAware Engine, which operates and manages concurrent web services, along with various connectors and adapters. Its solutions empower users to access and integrate data with applications and business processes effectively. By transforming data into reusable services, XAware enables real-time integration in service-oriented architectures, rich Internet applications, and software as a service environments, leveraging established technical and industry standards.

Luxtera

Series A in 2002
Luxtera, Inc. is a leading developer of silicon photonics technology, specializing in the design and manufacturing of optical modules for data centers and mobile infrastructure. Founded in 2001 and headquartered in Carlsbad, California, the company has pioneered the integration of high-performance optics directly with silicon electronics on a CMOS chip, facilitating direct "fiber to the chip" connectivity. Luxtera's innovative approach combines the long reach capabilities of single-mode fiber with the cost-effectiveness of integrated optoelectronics to produce advanced optical transceivers that significantly enhance high-speed optical communications. As a fabless semiconductor company, Luxtera's products are designed to deliver low-cost, high-volume optics solutions with improved performance and reliability. In December 2018, Luxtera was acquired by Cisco, marking a significant milestone in its growth and development within the telecommunications and semiconductor industries.

Mobile Skyflow

Seed Round in 2000
Skyflow, Inc. is a technology company based in Los Altos, California, that specializes in providing a privacy data vault platform for businesses to securely store and manage sensitive user information, such as social security numbers and other personally identifiable information (PII). Established in 2017 and formerly known as Prekari Labs, the company offers a modern, cloud-native solution that employs polymorphic encryption and tokenization to protect data across various applications. Skyflow's platform allows organizations to efficiently manage, access, and govern sensitive data through a set of application programming interface (API) calls, ensuring compliance with stringent privacy standards. The company has steadily expanded its customer base and continues to innovate in the realm of data privacy and security.

Isovia

Seed Round in 2000
Isovia is a developer of wireless communications technology that specializes in creating mobile applications for supply chain and customer relationship management. The company has assembled a team of experts in enterprise applications, wireless technologies, and speech recognition to offer a comprehensive suite of mobile business applications. These applications utilize wireless connectivity and intelligent synchronization technologies, allowing seamless operability across various devices, including smartphones, PDAs, two-way pagers, and voice interfaces.
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