Carbice meets Toyota AI in $15m series A

Nov 30, 2020 • Callum Cyrus

Heat regulation material developer Carbice picked up capital from Toyota AI Ventures and Downing Ventures that will support recruitment.

Toyota AI Ventures, a corporate venturing subsidiary of carmaker Toyota, has backed an initial $15m series A close for US-based thermo-storage material developer Carbice Corporation.

The tranche was led by venture capital firm Downing Ventures and follows a $1.5m seed round co-led by incubator TechSquare Labs and public-private VC fund GRA Venture Fund in 2017.

Founded in 2017 as a Georgia Tech spinout, Carbice has created an aluminium and carbon material for regulating heat within electronic devices, reducing the risk…

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