AeroShield Materials, a Waltham, MA-based MIT spin out developing technology for energy efficiency applications in the built environment, raised $5M in additional funding.
Backers included existing investors Massachusetts Clean Energy Center and MassVentures as well as new investor MassMutual Ventures.
The company intends to use the funds to scale its business, and to expand its team to more than 30 employees in the 12,000 square-foot facility where it plans to manufacture full-sized products, including double pane windows.
Led by CEO Dr. Elise Strobach, AeroShield is a material science company that has developed and scaled transparent silica aerogels. Its transparent silica aerogel sheets are can be added inside double-pane windows and doors to improve energy performance by up to 65%. The facility in Waltham will expand the company’s capabilities with aerogel R&D labs, manufacturing equipment, assembly lines, and testing equipment.
FinSMEs
30/07/2024