Phononic Raises $50M in Growth Financing


Phononic, a Durham, NC-based solid-state cooling and heating technology company, received a $50m growth funding.

The Sustainable Investing business within Goldman Sachs Asset Management (Goldman Sachs) made the investment.

The company intends to use the funds to expand sales and marketing, domestic and international high-volume manufacturing capabilities, and expand its cooling and refrigeration product portfolio and platform.

Led by Tony Atti, Co-founder and CEO, Phononic provides semiconductor cooling solutions including thermoelectric chips and fully integrated products used in Optolelectronics (Fiber Optic Communications/5G/LIDAR); Cold Chain Fulfillment (ecommerce ecosystem); and Technology Licensing (licensed to leaders in the life sciences & healthcare, food & beverage and climate control sectors).