NuMat Technologies, a Skokie-based advanced materials startup, raised a new round of funding to expand its product offerings to Europe and East Asia.
The startup raised $12.4 million in a round led by OS Fund, a New York-based VC firm founded by Braintree Founder Bryan Johnson.
Other participating investors include Osage University Partners and Tin Shed Ventures, Patagonia’s investment arm, which invests in startups offering solutions to the environmental crisis.
The B2B startup designs gas storage, separation and purification systems, as well as advanced materials for electronics, healthcare, energy and other sectors.
It has now raised nearly $20 million since launching in 2013. NuMat, founded by Benjamin Hernandez and Omar Farha while they were students at Northwestern University, will use the new funding to expand the startup’s manufacturing footprint throughout other regions of the world.
“This is capital that will be deployed towards investing in our capabilities in terms of our computational workflow,” Hernandez said.
“We’re really doubling down on our approach to material commercialization.” NuMat’s scientists and engineers use high-performance computing with technology in chemistry and hardware development to design metal-organic frameworks that address a wide range of challenges in industrial and engineering industries.
NuMat’s products solve an array of problems, but focus...
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