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Xolve Inc. Raises $ 2 Million to Start-up Nanomaterial Company

Published on 2010-12-30. Author : SpecialChem

PLATTEVILLE, WIS. -- Xolve Inc., a start-up nanomaterials company, announced that it has raised $2 million in funds from both financial and strategic investors.

The Platteville-based company was founded based on research at the University of Wisconsin-Platteville. The company is working to commercialize intellectual property that enables simple room temperature processing of graphene and other nanoparticle composites, solutions and coatings.

Funding for the company came from Herleen, the Netherlands-based Royal DSM NV and Baraboo-Wis.-based Nordic Group of Cos., which includes injection molder Flambeau Inc., according to local news reports. Other investors include NEW Capital Fund of Appleton, Wis., and Peak Ridge Capital of Boston.

Xolve will use the funds to add 10-12 employees in 2011.

Xolve, formerly Graphene Solutions, was one of BusinessWeek magazine's top startups in 2008. The firm is headed by President and CEO John Biondi, who has been a senior manager in six other start-up ventures.

About Xolve Inc.:

Xolve is an early stage company commercializing IP that enables effective, simple, room temperature processing of graphene and other nanoparticle composites, solutions and coatings.

Source: Xolve Inc.


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