Advanced Diamond Technologies (ADT), a company specializing in diamond films, declared that it has successfully completed the $5.2 million Series D financing.
The funding round was led by S-Group Capital Management, a Russian-based private equity and venture capital firm.
ADT develops a variety of products using the patented UNCD nanocrystalline diamond, which significantly improves performance and reduces additional cost. The UNCD Electrodes decrease the purifying cost of potable water by a factor of ten. Wireless, broadband communication chips made using UNCD diamond technology decrease manufacturing costs, have greater data transfer rates and are also compact in size. The UNCD-based bearings prevent breakdown of pharmaceutical mixers related with dry running and eliminate contaminants that can spoil the whole batches of drugs. Thus, the UNCD technology turns diamond into a valuable and affordable engineering material.
The funding proceeds will be used by the company to increase sales. Co-founder and Chief Technical Officer of ADT, Dr. John Carlisle stated that the company will also make investment in marketing, sales and business development activities to increase revenue and growth.
The Managing Partner of S-Group, Vladimir Yakushev noted that the investment in ADT provides them an opportunity to understand the potential of diamonds in numerous applications, including water treatment, semiconductors and industrial coatings.
Source: http://www.thindiamond.com/