NanoMech, a Springdale, Ark.-based global nanoscale manufacturer, secured an additional $12m in Series B Financing round.
Backers included Meadow Lane Investments, Hendricks Investment Holdings, Advantage Capital Partners and Spring Creek Investments.
The company intends to use the funds to continue to invest in additional sales and marketing resources, expand and protect its intellectual property, and increase investment in its nanotechnology platforms, nGlide, TuffTek, and nGuard.
Founded in 2002 and led by CEO Jim Phillips and CTO Dr. Ajay Malshe, NanoMech creates advanced engineering materials through patent and patent-pending nano-engineered and nano-manufactured product development.
The company’s products have applications in very advanced machining and manufacturing, lubrication and energy, sustainable protective multi-functional coatings for textiles and other consumer products, strategic military applications and biomedical implant coatings.