NevadaNano, a Sparks, Nevada-based developer of Molecular Property SpectrometerTM (MPSTM) gas sensing solutions, raised $18m in Series B funding.
The round was led by Ray Stata, with participation from several existing investors.
The company, which previously raised $1.5m in Series A financing, will use the new funds to accelerate market launch of its gas-sensing products.
Led by Ralph Whitten, President, NevadaNano is advancing molecular property spectrometer gas sensing solutions that can be distributed in homes, offices and outdoors to monitor exposure to hazardous gases and to take action to protect health.
The company’s technology combines multiple MEMS sensors, environmental sensors and algorithms to accurately identify and quantify a wide range of gases. The first MPS products, which leverage technologies licensed from the University of Nevada, Reno, are sampling to select customers.