|
||
|
Venture capital firms and funds in Europe 128 Venture Capital Group 3i Venture Capital Accuitive Medical Acer Venture Capital Act Venture Capital Ltd Adelaide Venture Capital Email ADS Ventures Boston Advantages Of Venture Capital Advent Venture Capital Agio Capital Alabama Venture Capital Alaska Venture Capital All Stages Venture Capital American Venture Capital Analysis Venture Capital Analyze Venture Capital Angel Capital Appraisal Venture Capital Arch Venture Capital Argentina Venture Capital Arizona Venture Capital Arkansas Venture Capital Arrowpath Venture Capital Assess Venture Capital Assessment Venture Capital Atlas Venture Capital ATV Venture Capital Aurora Fund Australia Venture Capital Austria Venture Capital Automotive Venture Capital AZ Venture Capital VCgate More Venture Capital Terms and Topics
-
Nuventix Secures $8 Million in New Funding
April 13th, 2009 No comments
Funds Will Accelerate Asian Market Development and Advanced Engineering
AUSTIN, Texas Nuventix, Inc., innovator of SynJet® active thermal management solutions, announced today it has closed $8 million in new funding. The funding will accelerate advanced development of the company’s groundbreaking SynJet cooling technology, an active cooler of solid state lighting which uses synthetic jets to enable energy efficiency and reduce energy consumption in lighting designs. Funding will also be used to add support resources for existing and new Asian distributors as Nuventix expands its geographic reach.
Braemar Energy Ventures contributed $3 million and Uniquest of Korea added $1 million. The funding is an extension of Nuventix’ series C round of fundraising announced in July 2008 in which Braemar Energy Ventures had already participated. This additional $4 million closes out the company’s total $18 million series C round. The company also signed an agreement with Silicon Valley Bank that makes a $4 million line of credit available to the company. Nuventix has now raised $32.5 million since its inception. Nuventix will use these funds to add specialized engineering staff and to facilitate expansion into new geographies.
“In the current economic climate, investors are being more conservative about the companies they support. Braemar has significant investment experience in energy efficient lighting, and this additional funding is a strong vote of confidence in our products and our business prospects,” said Jim Balthazar, president and CEO, Nuventix. “With this funding, we look forward to accelerating the development of new, cost effective active thermal management designs and to expanding the geographic reach of SynJet cooling products.”
Nuventix’s SynJet electronics cooling technology is currently utilized by leading LED lighting manufacturers to cool high brightness LED lights. This technology allows LED designers and manufacturers to build energy efficient lighting solutions without thermal constraints. In addition to reducing energy consumption in lighting designs, SynJet technology can also be used for chip cooling in high performance servers, an ever increasing drain on energy resources.
“Nuventix’s unique energy efficient technology mirrors Braemar’s belief in being ahead of the curve and complements our existing energy technology portfolio,” said Dennis Costello, managing partner, Braemar Energy Ventures. “We’ve been impressed with the broad market adoption of Nuventix’s SynJet cooling technology and are pleased to continue our support during these difficult financial times.”
About Nuventix
Nuventix is revolutionizing active thermal management of consumer electronics, high power LED lighting, medical, telecommunications and automotive with patented, highly adaptable, quiet and reliable cooling devices that efficiently – and directly – dissipate heat from any surface. The patented SynJet active cooling technology enables the most reliable and flexible spot cooling solutions available today. The Austin, TX-based company is venture-backed and led by an experienced team of senior executives with a breadth of experience building and leading thermal and startup companies to success. More information can be found at www.nuventix.com.
Source: Nuventix, Inc.
Leave a reply
Latest Headlines:
Friday August 31, 2012
Zscaler Secures $38 Million Investment Round
Wednesday November 30, 2011
Health Care Solutions companies Infinity Pharmaceutics, NanoVobronix and Selventa raise funds.
Monday November 21, 2011
Panda Power opens $420 Million Fund for Solar and Natural Gas Projects
Thursday November 17, 2011
Better Place raises $200 Million for Electric Cars in the Series C of Funding
Wednesday November 16, 2011
Accel Partners raise $100 Million Big Data Fund to Invest in Hadoop, NoSQL and other Companies
Tuesday November 15, 2011
Skimlinks raises $4.5 Million to help Bloggers Increase their Gains
Monday November 14, 2011
Standing Cloud raises $3 Million to help New Cloud Providers grow Faster
Thursday November 10, 2011
Zillow acquires Diverse Solutions for $7.8 to help Real Estate Agents increase their Visibility