NanoSteel was founded in April 2003 with $3m from investment group Milicom Technologies, which also manages the US Army's OnPoint Technologies venture investment fund, as its first partnership with INEEL before raising $17m in October last year, according to a regulatory filing.

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. Alongside GM Ventures as lead investor in the C round were venture capital firms EnerTech Capital and…

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