Persimmon Technologies Corporation, a Massachusetts-based provider of vacuum robotics and hybrid-field motor technology for the semiconductor, LED, FPD and solar equipment markets, recently closed a $5.8m Series B funding round.
The backers included Intel Capital and The Bernard M. Gordon Charitable Remainder Trust, which joined Nidec Sankyo as major equity holders in the company, as well as two unnamed individual investors.
Persimmon Technologies said that the new funding will help the company expand its vacuum robotics product portfolio, invest further in the development of its hybrid-field motor technology, expand global distribution and ramp up manufacturing operations.
Michael Pippins, the president and chief executive of Persimmon Technologies, said that the company was excited to add Intel Capital as an investor. "Intel Capital's support of Persimmon will accelerate the development of our technology and the growth of our company." He also added that the company was "very pleased to add The Gordon Trust as an investor. Bernard Gordon, the founder of Analogic and a renowned technologist, is a strategic addition to our investor base. We intend to benefit from his experience in building significant technology companies."
Vacuum robot technology “is innovative in mechanical design, controls technology and advanced software," while hybrid-field technology “replaces the traditional stamped and laminated sheet metal motor stators with spray deposition technology developed in part from Persimmon’s experience in semiconductor technology,” the company added.
In an earlier statement, the company said that the commercial potential of this project is to enable production of electric motors with improved performance and efficiency while reducing cost and material scrap associated with manufacturing of motor winding cores.
Launched in March 2011 and led by Michael Pippins, the company has developed next generation vacuum robotics technology with over 20 pending patents. Initially funded with a National Science Foundation (NSF) Small Business Innovation Research (SBIR) Phase I grant in July, 2011, the company was awarded a follow-on NSF Phase II SBIR grant to further develop the technology.
Persimmon Technologies, Corporation is the exclusive Sales Representative for Nidec Sankyo atmospheric robotic products in the USA.
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Edited by Rich Steeves