The round backing the US-based nano-structured steel design company, was also invested in by EnerTech Capital, Fairhaven Capital Partners (including TD Capital) and five existing investors.
NanoSteel, a US-based maker of high-strength steel spun out of the Idaho National Environmental and Engineering Laboratory (INEEL), has raised $12m in its series C round from a consortium including US-listed car maker General Motors’ corporate venturing unit.
Jon Lauckner, president of GM Ventures and the car maker’s chief technology officer, said: “Over the next several years, light-weighting of vehicles will be a major focus area to improve fuel economy. NanoSteel’s nano-structured alloys offer unique material characteristics that are not…
