CHASM Advanced Materials, a company that develops a new category of advanced materials called nanotube hybrids, has closed a Series C fundraising round at $15 million.
The round was led by WAVE Equity Partners, a private equity company in Boston that seeks and invests in clean energy, food, water, and materials companies with transformational technologies.
SWM International (SWM), a leading global performance materials company, as well as the leading global manufacturer and supplier of carbon solutions Birla Carbon also participated.
The inventor of nanotube hybrids will use the new funds to accelerate the commercial expansion of CHASM’s AgeNT products for transparent printed electronics, NTeC products for energy storage, and a range of composites applications.
In addition, it also helps the company to launch a new category of membranes developed to disrupt water treatment, CHASM-H2O, in order to solve the world’s water scarcity problem.
David Arthur, Chief Executive Officer and Co-founder at CHASM commented,
“CHASM’s nanotube hybrid technology platform continues to deliver breakthrough functionality, efficiency, and sustainability across a wide range of applications and industries. Our strategic partnerships with Birla Carbon and SWM are expected to help us quickly bring these innovations to scale and significantly accelerate the penetration of very large markets for advanced materials solutions. Beyond their steadfast monetary backing in each investment round, our lead investor, WAVE Equity Partners has delivered significant value through go-to-market guidance and key advisory resources. The support we are receiving from our financial and strategic investors in this round is a clear signal of our commercial readiness.”
CHASM creates and produces nanotube hybrids, a class of advanced material that is used to improve device technology, transportation, infrastructure, natural resources, and healthcare.
Leading companies across multiple industries have introduced their future products using CHASM’s products.
The ageNT is used for transparent flexible printed electronics, NTeC for performance additives, battery, or coating while Signis is used for touch buttons and sensors with superior environmental stability.
WAVE Equity Partners focuses on breakthrough innovations in the manufacturing and the hard tech space. The company’s goal is to invest in innovators who are working to solve some of the world’s greatest challenges such as creating clean energy, food, water, waste management, and clean air.