Phononic keeps its cool with $30m

Sep 14, 2016 • Thierry Heles

Rex Healthcare has returned to back a $30m round for the thermal heating and cooling technology maker, having previously contributed to a $44m series D in 2014.

Phononic, a US-based producer of heating and cooling technology, secured $30m in funding on Monday in a round backed by Rex Healthcare Ventures, the investment vehicle of healthcare system Rex Healthcare.

The round included Huaneng Invesco WLRoss, a joint venture between utility Huaneng Power Company and investment management firm Invesco WL Ross, as well as GGV Capital, Lookout Capital, Eastwood Capital Corp, Venrock, Oak Investment Partners, Tsing Capital and Wellcome Trust.

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