UC Berkeley advanced materials spinout Nelumbo recently raised $5.5m in series A funding and will now partner Danfoss to develop a heat exchanger based on its materials.
Nelumbo, a US-based advanced materials producer spun out of University of California (UC) Berkeley, received an undisclosed amount of funding today from industrial conglomerate Danfoss.
Founded in 2015, Nelumbo designs advanced materials that enhance performance and prevent corrosion in heating, ventilation, air conditioning and refrigeration (HVAC) systems. Danfoss will now help build a heat exchanger based on Nelumbo’s materials.
Nelumbo will increase its headcount to drive development for additional HVAC markets, having recently opened a pilot production facility.…
