NanoSteel raises $2.5M in latest fund round

NANOSTEEL, a nano-structured steel material design company, raised $2.5 million during a recent fund round, according to a federal filing.
NANOSTEEL, a nano-structured steel material design company, raised $2.5 million during a recent fund round, according to a federal filing.

PROVIDENCE – NanoSteel, a nano-structured steel material design company, raised $2.5 million during a recent fund round, according to a federal filing.
The $2.5 million was raised from 15 investors as part of a $10 million round, according to documents filed with the U.S. Securities and Exchange Commission. The company, based in Providence, declined to comment on the investing parties or how the money would be used.
“At this time, we are not at liberty to discuss any further details on this latest round of funding,” wrote a spokeswoman in an email.
NanoSteel develops proprietary grades of high-strength steel for the automotive industry, according to its website. Incorporated in 2007, the company is privately held and funded by lead shareholders EnerTech, Fairhaven Capital and GM Ventures.

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