Arctic Sand Technologies Closes $9.6M in Series A Financing
Backers included Arsenal Venture Partners, Northwater Capital and Ray Stata, and strategic investors, including Dialog Semiconductor and Energy Technology Ventures (ETV, a joint venture involving ConocoPhillips, GE and NRG Energy, Inc.).
Founded in 2011 as a MIT spin-off by Nadia Shalaby, PhD, CEO, the company is commercializing energy-efficient power-conversion chips for multiple markets. the Arctic Sand Transformative Integrated Power Solutions (TIPS™) platform platform targets the $10 billion total available market for DC-to-DC power-conversion chips, used today to convert power inside the devices for telecom, datacom, industrial and mobility markets.
The company has earned industry recognitions, including the 2011 NASA Game Changer Award, the US Department of Energy U-Launch Award and the NREL Industry Growth Forum Grand Prize Award, and has received the National Science Foundation’s Small Business Innovation Research Phase 1 grant.