Persimmon Technologies, a provider of vacuum robotics and hybrid-field motor technology for the semiconductor, data storage, LED, flat panel display and solar equipment markets, has completed a $14 million Series B financing round, with the latest funds coming from two new investors, The ABB Group and Berwind Private Equity. The company previously raised $5.8 million in the round from Intel Capital and several individual investors.
Since launching in 2011, Persimmon has been developing hybrid-field motor technology, a new approach to making motor components using 3D deposition processes designed to increase power density, eliminate manufacturing steps and reduce component costs. The company will use the proceeds to expand its existing product portfolio and invest further in the development of its technology. Persimmon initially raised a $2 million Series A round at a $9 million valuation in March 2011.