NBD Nano Raises $5.2M Series A Round Led by Phoenix Venture Partners
Funding Will Advance Development and Commercialization of Water Condensation Technologies
We are excited to report that Better Ventures portfolio company NBD Nano has closed a $5.2M Series A round of financing led by Phoenix Venture Partners, a leading venture firm in advanced materials innovations. Supply Chain Ventures and previous angel investors also participated in the round. NBD is a nanotechnology company that takes its inspiration from the Namib Desert Beetle, a resourceful insect that harvests water in the African desert using hydrophobic waxes and hydrophilic regions on its back. Bio-mimicking the Namib Beetle, NBD creates advanced water condensation technologies, which have a wide variety of uses from improving energy efficiency in industrial applications to harvesting water from the environment for use in agricultural irrigation and eventually for clean water consumption in drought prone regions of the world.
We've been impressed by Deckard Sorensen and his co-founder Miguel Galvez ever since we met the brainy duo at the TechStars Boston demo day in November 2012. They've made tremendous progress since we invested, spending countless hours in the lab developing surface coating technologies that enhance water condensation capabilities by an order of magnitude better than what was previously possible. NBD's proprietary technologies are now being licensed by several early customers for use in a number of applications including industrial steam condensers, electronic devices, and fog harvesting.
If you would like more information on NBD Nano, please feel free to reach out and we'll put you in touch with Deckard. We would also welcome the opportunity to discuss Better Ventures Fund II with you. We're making excellent progress towards our first close on September 30th, and we'll be investing in new companies soon. If you would like timely updates on Better Ventures, be sure to follow us on Twitter and AngelList. Thank you!
Rick & Wes