Black-Owned Tech Startup Carbice Raises $15M Series A to Disrupt Thermal Management Across Industries
Photo Credit: Instagram / @baratundecola
Atlanta-based startup company Carbice Corporation recently closed a funding round to invest in future expansion efforts.
Carbice Corp. — founded by scientist Dr. Baratunde Cola in 2017 — produces multi-functional material solutions such as Carbice Carbon, a thermal-management material for spacecraft and other applications, to enhance the world’s most important electronic, energy and industrial products, according to its website.
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The startup announced this week that it raised $15 million in a Series A investment round largely led by London-based investment firm Downing Ventures and additional funding provided by Toyota AI Ventures.
We're excited to welcome @Carbice to the Toyota AI Ventures portfolio! Carbice's carbon nanotube technology lowers electronic device temperatures and dissipates heat. Read @Jim_Adler's blog post to learn why we invested: https://t.co/6CAGcBbYu4 pic.twitter.com/W134JuX3z1
— Toyota AI Ventures (@Toyota_AI_VC) November 23, 2020
Per its latest funding round, Carbice plans to hire sales and marketing personnel as new additions to its staff and expand its production to meet demand, according to a press release.
“These funds will allow Carbice to attract top talent to help grow their sales and marketing functions and enable the company to scale their production to meet the significant product demand,” shared Downing Ventures in an announcement.
Since Carbice was first founded three years ago, the company has received grants from the U.S. Air Force, U.S. Army, Georgia Research Alliance and National Science Foundation Small Business Innovation Research Program.
According to a statement from Downing Ventures, Carbice® Carbon is “a product that lowers device temperatures and dissipates heat away from product packaging.”
It is used as a long-term reliable solution in diverse operational environments for space applications within satellites in addition to many other terrestrial applications.
In short, the Carbice® Carbon technology the startup company develops offers the only thermo-interface solution on the market, which makes thermo-connectivity management much easier to navigate.
“Carbice Carbon eliminates the biggest headache and risk factor facing the satellite industry for the last 35 years — thermal glue,” Dr. Cola told SpaceNews. “Thermal glue is difficult to apply, takes days to cure, and is very difficult to rework. Yet for 35-plus years the entire industry has been struggling with thermal glue for payload integration because of no viable alternative.”
He concluded his point stating that, by switching from thermal glue to Carbice Carbon, prime contractors can save “hundreds of dollars per square inch of thermal interface.”
According to SpaceNews, Warren Rogers — Downing Ventures partner — shared in a statement that “Carbice Carbon is nothing short of revolutionary and will completely disrupt thermal management in every industry.”
In addition to its latest investment round, Carbice also shared that Hal Lasky — a former IBM executive — will be joining the company as the new COO. It has also appointed Bianca Cefalo — former Airbus thermal products lead — to serve as the company’s International Business Development director.
For more information about Carbice, visit its website.