Phoenix Venture Partners Leads a $5.2M Series A Financing in NBD Nanotechnologies, Inc.
BOSTON, Mass., August 13, 2014-- NBD Nanotechnologies, Inc. (NBD), a leader in the development of biomimetic inspired functional and durable surface wetting modifications has secured $5.2M in Series A funding to advance its platform technologies and product development. Phoenix Venture Partners (PVP), a leading venture capital firm with domain expertise in advanced material entrepreneurship, led the investment and was joined by Supply Chain Ventures and previous angels. Proceeds of the funds will be used to advance NBD’s product development of its propriety surface modifying coatings and additives in various industrial and consumer markets. Example applications for its platform technologies include but are not limited to: coatings for industrial steam condensers; electronic devices; industrial protective paints & fog harvesting.
“We have followed NBD Nanotechnologies for sometime and see tremendous potential in its coatings platform technologies which broadly enable many attractive market applications and have been impressed by the rapid progress and execution of the management team. We are delighted to welcome NBD Nanotechnologies into the PVP family of companies and look forward to working closely with the team.” said Dr. John Chen of Phoenix Venture Partners, who along with fellow partner Dr. Nobi Kambe, will both be joining NBD Nanotechnologies’ Board of Directors.
NBD is poised to disrupt several markets. Because of the nature of its platform technologies with various application areas, NBD believes it will be able to penetrate several large markets simultaneously. NBD has employed a strategic partnership based approach by leveraging support and resources from large corporate partners to mitigate market risk and provide a direct avenue to market. NBD is in discussion with several Fortune 500 companies on Joint Development collaborations and commercialization contracts. Though there are many competitors in the space, NBD has differentiated itself by being able to demonstrate significant durability combined with outstanding functionalities such as omniphobicity, optical transparency, and compatibility compared to competitors.
“Joining the Phoenix Venture Partners portfolio will provide us with the domain expertise and connections we need to take our company to the next level. We believe we have found a great partner and look forward to the progress we will make together to make NBD a commercial success,” stated Co-founder & CEO, Miguel Galvez. “NBD has built a strong foundation to make a huge impact on various markets; PVP represents the best partner to support our effort in NBD’s growth and expansion for global commercial reach,” added Co-founder & President, Deckard Sorensen.
About NBD Nanotechnologies, Inc.
NBD Nano is a functional coatings and additives company specializing in surface wettability. It has the ability to make highly functional and durable materials that are omniphobic (hydrophobic, oleophobic) and hydrophilic. NBD tackles the current state of the art and is penetrating several market opportunities through its partnership-based approach. NBD has also received grant supports from federal agencies such as the National Science Foundation and USDA for the development and commercialization of proprietary technologies. For more information, please visit http://www.nbdnano.com.
About Phoenix Venture Partners
Phoenix Venture Partners (PVP) is a leading venture capital firm that invests in and partners with entrepreneurs to commercialize breakthrough materials science innovations. PVP’s team has a track record of founding, building and investing in successful materials science start-ups. The firm’s investment strategy is flexible and predicated on assisting entrepreneurs with customer and supply chain partnerships, business development, as well as strategic and operational support. PVP collaborates with a select set of forward-looking global corporations on business development and innovation interests. PVP is based in Silicon Valley with satellite offices in Singapore and Cambridge, MA. For more information, please visit http://www.phoenix-vp.com.
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