Phononic, a Raleigh, North Carolina-based consumer products company innovating cooling and heating, secured $44.5m in Series D funding.
The round was led by Eastwood Capital Corp and the Wellcome Trust, with participation from WLR China Energy Infrastructure Fund, Tsing Capital, Venrock, Oak Investment Partners and Rex Health Ventures.
The company intends to use the funds to increase sales, penetrate new market opportunities and expand manufacturing capacity.
Led by Tony Atti, CEO, Phononic uses semiconductor — or solid state — technology to provide sustainable, distributed, convenient, and connected thermal management solutions. It recently introduced its refrigeration product line for laboratories, research centers and medical facilities, complementing its residential commercialization efforts. The company’s technology is now also being applied to fiber optics, telecommunications and data server infrastructure cooling, with thermal solutions necessary to continue Moore’s Law.