US-based carbon nanotube manufacturer Cnano Technology has closed a $15m series B round featuring IDG Capital Partners, an investment affiliate of technology research and media company International Data Group.
Private equity fund GRC SinoGreen Fund led the round and was joined by venture capital firms Hotung Investment Holdings, Presidio Partners and private equity firms Pangaea Ventures and WI Harper Group, and Megatop Capital.
Cnano, a spin-out of Tsinghua University, produces carbon nanotubes for the energy storage, structural and electronics sectors, and will use the fresh funding to expand its manufacturing capabilities to meet demand.
The company previously secured an undisclosed amlunt of series B funding from IDG Capital Partners in 2010. CMEA Ventures and Pangaea Ventures led a $6m series A round in 2007 that also featured WI Harper.