Company plans to expand its product offering in new and existing markets
DURHAM, N.C. — Phononic, a developer of solid-state cooling and heating technology, announced it has raised $30 million in new funding. The company said the funding will be used to grow its sales and marketing organization for expansion of its solid-state products in electronics cooling, and health care, residential, and commercial/merchandising refrigeration, within existing and new markets.
“We’ve seen exponential sales growth in health care and life sciences refrigeration where we offer unprecedented sample protection, and in high performance fiber-optic communications where our micro- and pico-TEC devices deliver cooling in a demanding form factor,” said Tony Atti, Phononic co-founder and CEO. “This capital provides Phononic with additional resources to scale our existing businesses and expand into new markets ripe for smart and sustainable solid-state hardware solutions.”