UC Berkeley-founded HVAC coating developer Nelumbo has added Utec to its investors as it boosted its series A round to $19.5m.
Nelumbo, a US-based heat exchange technology spinout of University of California (UC) Berkeley, increased its series A round to $19.5m today following an extension co-led by University of Tokyo Edge Capital (Utec), the institution’s venture capital unit.
Prime Mover’s Lab co-led the $14m expansion, which also featured Berkeley Catalyst Fund, a vehicle that invests on behalf of UC Berkeley’s College of Chemistry, and industrial products group Danfoss.
Safar Partners, Darwin Venture Management, Neue Fund and Photon Fund filled…
