C3Nano Secures US $6.7 Million in Series-B Funding Led by Phoenix Venture Partners
HAYWARD, CA--(Marketwire - Feb 15, 2012) - C3Nano, Inc, a Silicon Valley startup developing a nanomaterials-based transparent conductive film, has raised US $6.7 million in Series-B financing led by Phoenix Venture Partners, with participation from existing investor, GSR Ventures. To date, C3Nano has raised in excess of US $10 million. C3Nano's disruptive carbon hybrid-based ink and film is gaining significant market acceptance and is in evaluation with several industry leaders in Asia. This new round of funding will support C3Nano's plans to expand its engineering capability, complete its ink product, and scale to production. In conjunction with the financing, Dr. Nobi Kambe of Phoenix Venture Partners will join the company's Board of Directors.
"We're very pleased to have the support of Phoenix Venture Partners and GSR Ventures," said Cliff Morris, chief executive officer of C3Nano. "Over the past year we've made significant inroads with customers who are validating and engineering our materials into their applications. Our customers view us as a legitimate lower-cost alternative to indium tin oxide (ITO). Our technical and commercial success has helped gain the support and confidence of top tier investors. With their global outlook and deep understanding of the technical materials market, we feel we have a strong strategic advantage."
