Braemar Energy Ventures has invested in Nuventix Inc., a cooling systems company in Texas, according to the company.
Braemar contributed $3 million of the $8 million total that closes out the Series C round for Nuventix. Another $1 million was from Uniquest of Korea and the remaining come from an agreement with Silicon Valley Bank that makes $4 million credit available to the company.
Braemar had already participated in the Series C round of fundraising announced in July 2008, bringing the total raised by Nuventix to $32.5 million since it launched.
Nuventix will use the new funds to add specialized engineering staff and to expand into new geographies for its SynJet cooling technology, an active cooler of LED lighting using synthetic jets to enable energy efficiency and reduce energy consumption in lighting designs, said the company officials.
Nuventix is not the first LED technology company funded by Braemar. The company has also invested in Billerica-based Luminus Devices Inc. by leading Luminus’ $72 million fifth round of financing in March of 2008.
About Nuventix Inc.
Nuventix is an active thermal management solutions company located in Austin, Texas. The Nuventix-developed SynJet® module is a newly patented synthetic jet cooling technology that utilizes turbulent pulses of air generated from an electromagnetic actuator. Nuventix's innovative approach to LED cooling is propelling that market forward two years ahead of analyst estimates. Synthetic jet technology using Nuventix's patented methods means revolutionary thermal solutions that are applicable to a wide variety of industries, including consumer electronics, telecommunications, automotive and industrial. Businesses and consumers are demanding more computing power and higher LED lumen output packaged into smaller spaces.
About Braemar Energy Ventures
While many companies and investors have sought to take advantage of the tremendous opportunity today's energy industry presents, the unique market issues, scientific contributions and complex web of interrelationships require a specialized expertise. Braemar Energy Ventures was formed in 2002 to create a venture capital firm with that expertise. Focused exclusively on technology and communications opportunities in the energy sector, Braemar Energy Ventures has both the industry and operating knowledge to select promising young companies, bring them into the larger energy world and guide them to reach their full potential.