Tech fundings: Phononic can now expand the engineering team, and establish a presence in Asia.

If unfamiliar, Connectikpeople recalls that, this rubric is intended to help organizations, and investors to live in real-time what happens in the startups world; in terms of fundings, acquisitions, strategic alliances and more. Regarding the emerging countries, and startups, this is an instrument for them to discover which Venture Capital or Business angel can fund their projects. 

This midday, we have captured an important financial momentum from Phononic. It is a $21 million Series C financing led by Beijing-based Tsing Capital with National Bank Financial and existing investors Venrock and Oak Investment Partners.

Connectikpeople observes that, Phononic’s approach aims to improve the energy efficiency, reduce the environmental impact of refrigerators and window-mounted air

conditioners.

Phononic, is one of the leaders in commercializing solid-state cooling and refrigeration technology and the funds will be used to expand the engineering team, transition from pilot to volume manufacturing and establish a presence in Asia precisely in China.

About Phononic

Phononic, headquartered in Research Triangle Park, North Carolina, is a growth stage, Consumer Products Company commercializing solid-state heat pumps and fully integrated systems that displace compressors for residential and commercial refrigeration, window mounted air conditioning and heating. The company was previously an ARPA-E awardee in the inaugural class in 2009, and has recently been named a 2013 Global Cleantech 100 company. For more information, visit: www.phononic.com.