Nuventix secures an additional $8 million in funding
The company plans to add engineering staff to continue development of its cooling technology, and to expand into other geographic regions.
Funding will also be used to add support resources for existing and new Asian distributors as Nuventix expands its geographic reach.
Braemar Energy Ventures contributed $3 million and Uniquest of Korea added $1 million. The funding is an extension of Nuventix’ series C round of fundraising announced in July 2008 in which Braemar Energy Ventures had already participated. This additional $4 million closes out the company’s total $18 million series C round.
The company also signed an agreement with Silicon Valley Bank that makes a $4 million line of credit available to the company. Nuventix has now raised $32.5 million since its inception. Nuventix will use these funds to add specialized engineering staff and to expand into other countries.
Nuventix’s SynJet electronics cooling technology is used by LED lighting manufacturers to cool high brightness LED lights. This allows LED designers and manufacturers to build energy efficient lighting solutions without thermal constraints. SynJet technology can also be used for chip cooling in high performance servers.