Tsing Capital leads Series C round for Phononic

Phononic said Thursday that it has raised $21 million in Series C financing. Beijing-based Tsing Capital led the round with participation from National Bank Financial and existing investors Venrock and Oak Investment Partners. The capital infusion will be used to expand the engineering team and establish a presence in Asia. Headquartered in Research Triangle Park, North Carolina, Phononic is a provider of commercializing solid-state and refrigeration technology.

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