CAMBRIDGE, Mass.--(BUSINESS WIRE)--Conformal electronics company, MC10, announced today the close of a new round of venture financing that will accelerate development and bring its first products to market. The $12.5 million Series B round is led by new investor, Braemar Energy Ventures, and joined by returning investors North Bridge Venture Partners, Osage University Partners, and Terawatt Ventures.
MC10 transforms high performance electronics that are rigid and planar into systems that can bend, stretch and wrap into nearly any shape. The company is currently developing products for the sports, military, and biomedical fields and has initial partners including Reebok and Massachusetts General Hospital.
“This financing comes at an exciting time for MC10,” says company CEO David Icke. “We have several products under development that achieve our mission of putting electronics on, in, and around the body. This capital will ensure that we get MC10’s technology into the market quickly and effectively and that we continue our growth by advancing into the energy sector.”
In addition to sports, medicine, and the military, MC10’s platform has broad applications across the energy sector. For example, MC10’s technology can be used to create flexible and conformal photovoltaics or thermo-electric systems that enable portable and even wearable energy generation. Braemar Energy Ventures’ investment and sector expertise will position MC10 as a technology player in the energy sector and adds to significant funding the company has received from the Navy and ARPA-E.
“We see an enormous opportunity in platform companies like MC10 that can have an impact across multiple industries,” says Jiong Ma, Ph.D., Partner, Braemar Energy Ventures. “The combination of an innovative technology and a strong visionary leadership team creates opportunities for growth and we are excited to be on this path with MC10.”
By creating flexible, bendable or wearable systems for users across multiple industries, the company sees a huge opportunity in making electronics both more widely deployable and “more personal.” Conformal electronics allow for seamless integration of electronics with the natural world, which ushers in a new era for how electronic products are envisioned, designed, and used.
About MC10
MC10 takes electronics 'out of the box' to create thin, conformal systems that are able to move with the natural world. The company combines breakthrough technology with innovative engineering to develop exciting new consumer, medical, and industrial products. MC10 is headquartered in Cambridge, MA. Visit MC10 online at www.mc10inc.com.
About Braemar Energy Ventures
Braemar Energy Ventures is a venture capital fund making early- to mid-stage investments in the energy technology sector. The firm's principals have invested in more than 50 companies in the sector and have significant technical, operational and financial experience in energy and energy-related industries. Through offices in New York and Boston, the firm targets a wide range of energy technologies that impact stationary power, transportation and portable energy applications. Additional information is available at www.braemarenergy.com.