National Bank Financial joins in $21 mln Series C financing of Phononic
Phononic, a Raleigh, North Carolina-based provider of solid-state heat pumps and fully integrated systems that displace compressors for residential and commercial refrigeration, air conditioning and heating, has raised US$21 million in a Series C financing round. The deal was led by Beijing-based Tsing Capital with National Bank Financial, a subsidiary of the National Bank of Canada. Existing investors Venrock and Oak Investment Partners also participated in the round. Proceeds of the investment will be used to expand Phononic's engineering team, transition from pilot to volume manufacturing, and establish a presence in Asia. The company has been venture-backed since 2009.
16 December 2013•2 mins read
