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March 9th, 2005
VC funding for Nano-Tex
Nano-Tex has closed its first official round of funding, the company announced Tuesday, bringing its total venture investment to $40 million.
Though the company had been profitable for two consecutive years, CEO Donn Tice and his team decided last fall to make new investments that would expand the company’s footprint worldwide. Between summer 2004 and spring 2005, Nano-Tex will have quadrupled its R&D staff and doubled its investment in sales and marketing, and is also increasing revenues in Europe and Asia.
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