Phononic Devices, Inc., a Raleigh, North Carolina-based company that commercializes advanced thermoelectric materials and device concepts, has closed on a $10m Series B financing.
The round was led by existing investors Venrock and Oak Investment Partners.
The company intends to use the funds to commercialize high efficiency thermoelectric modules, expand its team of materials science and compound semiconductor device engineers, and add prototype capacity to leverage its proprietary materials and semiconductor processes.
Led by Dr. President and CEO Anthony Atti, Phononic Devices commercializes thermoelectric materials and device concepts, which are designed to improve the efficiency of heat-to-electric energy conversion, and conversely, efficient use of electricity for cooling and refrigeration.
FinSMEs
23/02/2011