Nano-resonator technology developer Sand 9 has raised an additional $3m for its series C round, backed by telecommunications firm Ericsson, just months after closing their first series C round.
The latest round brings the Boston-based firm’s total venture funding to $49m. In June, the firm closed its first series C round for $23m. Led by Intel Capital, the round saw fellow newcomer Vulcan Capital join existing investors Commonwealth Capital Ventures, Flybridge Capital Partners, General Catalyst Partners, and Khosla Ventures in participation.
CCV, GCP, Flybridge and Khosla all took part in a series B round worth $12m in May 2010. In May 2008, Flybridge, GCP, and Kholsa all participated in Sand9’s $8m series A round. In addition, the firm held a venture round that raised $3m in November 2011, but did not disclose further details.
Sand9 plans to use the funds to rapidly increase its product portfolio.
“Ericsson has a well-earned reputation as one of the world leaders in communications infrastructure and base station equipment,” said Vince Graziani, chief executive officer of Sand 9. “Their investment in Sand 9 validates our emphasis on MEMS timing products that deliver high robustness, without sacrificing performance.”