North Carolina State University spin-off Phononic secures $21m for solid state cooling.

Phononic, a spin-out of North Carolina State University, has raised a $21m series C to continue commercialising solid state cooling technology.

The round was led by Beijing-based Tsing Capital, with participation from National Bank Financial, a subsidiary of the National Bank of Canada, and existing backers Oak Investment Partners and Venrock, originally established in 1969 as the venture capital arm of the Rockefeller family.

The round brings Phononic’s total funding to $31m following a series B round in 2011 supported…

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