Phononic, a Durham emerging entrepreneurial company focusing on refrigeration and temperature control technology, has raised another $30 million in financing.
Earlier this year, Phononic cracked CNBC’s “Disruptor 50” list.
Phononic raised $40 million 2014.
The new funding was first reported early Monday by Tech Crunch.
Funds will be used for expansion overseas and further development of its technology for use in electronics and refrigeration.
Rex Healthcare Ventures in Raleigh is among the investors along with the Wellcome Trust.
Other backers include GGV Capital, Lookout Capital, Eastwood Capital Corp, Venrock, Oak Investment Partners, Tsing Capital, Huaneng, Invesco, and WLRoss.
CEO and founder Tony Atti told Tech Crunch that his firm’s technology is both quieter and less energy intensive than other available systems. But customers are embracing it for cost-savings, not to look “green.”
“We can draw a line between a solid state, sustainable solution and something that has real economic value for our customers,” he said.
