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Nextreme Series B financing reaches $13M

Posted: 08 Aug 2008 ?? ?Print Version ?Bookmark and Share

Keywords:power management? thermal? financing Series B?

Microscale thermal and power management solutions provider Nextreme Thermal Solutions has secured $13 million in Series B financing. The round was led by Chart Venture Partners (CVP) and included previous investors Redshift Ventures, Harris & Harris Group Inc., In-Q-Tel and RTI International as well as Japan-based Itochu Corp. and Itochu Technology Ventures Inc. The funding will be used to ramp Nextreme's products into full production in 2009 in response to demand from the photonics and military markets, and to develop new products for the computing, consumer and mobile markets.

"There are very few breakthrough innovations in the market today addressing these industry-wide thermal issues," said Ted Hobart, partner with CVP, a $100M early stage venture capital fund investing in security-related technologies with government and commercial applications. "Nextreme is managed by an accomplished start-up team and offers a highly differentiated technology backed by a very strong intellectual property position."

Nextreme began shipping its first product in October 2007 and recently brought up production in a new facility.

"We are very pleased with where we are now positioned," said Jesko von Windheim, CEO of Nextreme. "We are seeing strong interest in the OptoCooler UPF4 and UPF40 products and anticipate design wins in the telecom industry this year. With financing in place and production up and running, we can concentrate fully on making that happen."

Extremely thin thermoelectrics
Nextreme's thin-film thermoelectric products are manufactured in volume with the Thermal Copper Pillar Bump process, an established electronic packaging approach that scales well into large arrays. The Thermal Copper Pillar Bump process integrates thin-film thermoelectric material into the solder bumped interconnects that provide mechanical and electrical connections for today's high performance/high density integrated circuits.

In addition to the $13 million Series B funding, Nextreme raised $14 million in Series A financing in 2007.

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