Nanotech developer Carbice raises $15m in funding

24 Nov 2020

Image: Carbice Corporation

Carbice will use the funding to attract new talent and meet product demand for its tech, which can be used in space satellites.

Atlanta-based Carbice Corporation has announced the closing of a $15m Series A funding round led by London-based Downing Ventures.

The company produces Carbice Carbon, a product made of a composite of recycled aluminium and aligned carbon nanotubes, which is designed to stop electronic devices from overheating by lowering temperatures and dissipating heat from product packaging.

Carbice was founded by Dr Bara Cola, a scientist and engineer with experience in the field of carbon nanotubes, having worked on them since 1999.

As more electronic devices reach the market, Carbice’s technology aims to offer a solution to the challenge of heat generated from these devices. Its product is designed to perform in harsh conditions, meaning it can be used satellites as well as in many terrestrial applications.

As well as funding from Downing Ventures, the company’s Series A round also received funding from Toyota AI Ventures.

The funds raised will allow Carbice to expand its team to help grow sales and marketing functions, and enable the company to scale production to meet product demand.

The start-up has previously received grants from the US Air Force, US Army, Georgia Research Alliance and the US National Science Foundation Small Business Innovation Research Program.

Solving a critical electronics issue

Warren Rogers, partner and head of Downing Ventures, said Carbice Carbon is “nothing short of revolutionary and will disrupt thermal management in every industry”.

“Not only is Bara one of the greatest technical minds out there, he is invested in how people and the world operate to make this planet a better place for everyone which is clear when you experience their company culture,” Rogers added.

Founding managing director of Toyota AI Ventures, Jim Adler, said thermal management is a “critical electronics issue” that hasn’t seen much disruptive innovation.

“Carbice Carbon’s heat-conducting technology is a game changer for applications in multiple industries. Bara is a proven leader with the ideal combination of vision, strategy, operations and technical expertise to realise Carbice’s potential.”

Jenny Darmody is the deputy editor of Silicon Republic

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