Nano-C, Inc., a Westwood, Mass.-based developer of nanostructured carbon for energy and electronics applications, completed an $11.5m round of funding with a final tranche of $3m in the form of an equity investment.
The investor was from Ray Stata, the co-founder and current chairman of Analog Devices, (NASDAQ:ADI), a global leader in the design and manufacturing of analog, mixed signal and DSP integrated circuits with over $5 billion in revenue.
The company will use this new capital to expand its support to existing and future customers and to implement an initial increase in production and staffing at its Westwood, MA, factory.
Founded in 2001 by Viktor Vejins, President and CEO, Nano-C is a developer of nanostructured carbon for use in energy and electronics applications. These materials include fullerenes, carbon nanotubes and their chemical derivatives.
Customers have already incorporated these materials and are getting ready to launch new products based on Nano-C’s materials.