Amastan Technologies, a North Andover, MA-based producer of advanced materials using microwave-plasma production systems, raised $13.85m in Series B funding.
The round was led by industrial technology venture capital firm Anzu Partners, with participation from Material Impact, RKS Ventures, KLP Ventures, and LaunchCapital. The funding also includes a $2M Emerging Technology Fund loan from MassDevelopment, the finance and development agency for the Commonwealth of Massachusetts. Amastan also announced today that Material Impact Venture Partner and former GE Chief Technology Officer Mark Little, PhD, has joined Amastan’s Board of Directors.
The company intends to use the funds to expand existing commercial partnerships, increase its overall production capacity with new equipment and systems, grow its engineering staff, and explore new application areas for its proprietary technology.
Led by Dr. Aaron Bent, CEO, Amastan is commercializing a UniMeltTM technology powered production platform, leveraging plasma to produce advanced powders and nanomaterials used in silicon wafers, LED lighting, powders for industrial 3D printing, advanced battery technologies, and thermal coatings, at lowered costs.