Phononic Turns Heat On with $44.5M Series D Funding
December 18, 2014
Phononic has raised $44.5 million in a Series D round led by the Wellcome Trust and Eastwood Capital. Focusing on consumer heating and cooling systems that use semiconductor/solid-state technology, the company also recently introduced a refrigeration product line for laboratories, research centers and medical facilities. Phononic has now raised over $88 million through four VC rounds; its valuation jumped from $2.6 million at the time of its 2009 $2 million Series A round to $68 million in March when it raised its $26 million Series C.