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Xanofi, a company specializing in producing custom, low-cost, functional nanofibers for a variety of market applications announces the opening of their Series B funding round.
Xanofi's Board of Directors unanimously approved $1.5 million to transition from a proof-of-concept phase into full commercial production. The funds will be used for equipment scale-up, company infrastructure, sales and marketing, ISO certification, and product development. The round is anticipated to close by September 30, 2011.
A spin-out from North Carolina State University's Technology Entrepreneurship and Commercialization program and the Department of Chemical and Biomolecular Engineering, Xanofi focuses on nanofibers applications in medicine, nonwovens, energy, filtration and performance textiles. The patent-pending XanoShear™ method for creating nanofibers lowers the overall cost of production and significantly yields to make commercial production possible in any market.
Xanofi is bringing to market an entire platform for nanofiber production and will launch its first products this year. The Company currently seeks development partners to bring new advance materials and products to other markets.
About Xanofi, Inc.
Xanofi, a highly innovative startup and spinout company from North Carolina State University, will change the global landscape on how nanofibers are manufactured with a new platform process that is highly efficient and easy to integrate into production environments. Using a patented technique called XanoShear™, the scalable Xanofi process will produce nanofibers at lower cost and significantly higher yields than current methods. This game-changing technology will enable many more industrial and consumer products to reach the market sooner.
For more information, please click here
Miles C. Wright
Chief Executive Officer
(919) 656-4490 Cell
(888) 919-XANO Office
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