Persimmon Technologies Closes $5.8M Series B Funding

Persimmon Technologies Corporation, a Wakefield, Massachusetts-based provider of vacuum robotics and Hybrid-Field Motor Technology for the semiconductor, LED, FPD and solar equipment markets, closed a $5.8m Series B funding round.

Backers included Intel Capital and The Bernard M. Gordon Charitable Remainder Trust, which joined Nidec Sankyo as major equity holders in the company, as well as two unnamed individual investors.

Persimmon Technologies intends to use the company to expand its vacuum robotics product portfolio, invest further in the development of its Hybrid-Field Motor Technology, expand global distribution, and ramp manufacturing operations.

Launched in March of 2011 and led by Michael Pippins, President and CEO, the company has developed next generation vacuum robotics technology with over 20 pending patents and is advancing Hybrid-Field electric motor technology, which aims to replace the traditional stamped and laminated sheet metal motor stators with spray deposition technology developed in part from Persimmon’s experience in semiconductor technology. Initially funded with a National Science Foundation (NSF) Small Business Innovation Research (SBIR) Phase I grant in July, 2011, the company was awarded a follow-on NSF Phase II SBIR grant in September, 2012 to further develop the technology.

Persimmon is the exclusive Sales Representative for Nagano, Japan-based Nidec Sankyo the atmospheric robotic products in the USA. Nidec, an $8 billion company traded on the NYSE and Tokyo Stock Exchanges, is one of the largest manufacturers of motors for industrial and consumer applications in the world with  robot manufacturing facilities in Japan, Taiwan, and China.



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