NanoCoolers Shuts Down

Austin-based NanoCoolers, a firm which was developing cooling systems for the semiconductor industry, has shut down. The news was first reported by the Austin American-Statesman. NanoCoolers had raised over $15M in venture funding from Austin Ventures, Draper Fisher Jurvetson, and the Texas Emerging Technology Fund, with the firm's last venture round in December of 2003. The firm had won a $3.0M grant in March from the Texas Emerging Technology Fund.