Innova Dynamics, Inc., a Philadephia, PA-based developer and supplier of advanced materials technologies impacting a broad range of fields including electronics, optics, energy, water treatment, coatings, biology, chemistry, raised $5.5m in a Series A financing round.
The investment was led by Rho Ventures, with participation from MentorTech Ventures.
In conjunction with the funding, Rho Ventures venture partner and former director at Dow Venture Capital, Nicholas Darby, Ph.D., has joined the company’s board of directors as chairman.
The capital infusion will allow Innova Dynamics to develop successful commercial partnerships. Innova, a spin out of the University of Pennsylvania, works with Fortune 500 companies, innovative SMEs and non-profits, and government entities.