Nanotube manufacturer Cnano Technology, a Tsinghua spin-out, has secured $15m for a series B round backed by returning investor IDG Capital Partners.
US-based carbon nanotube manufacturer Cnano Technology, a spin-out of Tsinghua University, has closed a $15m series B round featuring IDG Capital Partners, an investment affiliate of technology research and media company International Data Group.
Private equity fundGRC SinoGreen Fund led the round and was joined by venture capital firms Hotung Investment Holdings, Presidio Partners and WI Harper Group, private equity firms Pangaea Ventures and WI Harper Group, and Megatop Capital.
Cnano produces carbon nanotubes for the energy storage, structural and electronics sectors, and will use the fresh funding to expand its manufacturing capabilities to meet demand.
The company previously secured an undisclosed amlunt of series B funding from IDG Capital Partners in 2010. CMEA Ventures and Pangaea Ventures led a $6m series A round in 2007 that also featured WI Harper.Nanotube manufacturer Cnano Technology has secured $15m for a series B round backed by returning investor IDG Capital Partners.
– This article first appeared in our sister publication Global Corporate Venturing.
