Nitride raises $3 million, adds investors

Nitride Solutions said this week it netted $3 million in its latest round of venture capital fundraising.

The Wichita-based company said in a news release that with the fundraising it has added investors Hansol Chemical of Korea, Greenpoint Global Mittelstand Fund and Silicon Pastures Angel Investment Network, both of which are based in Wisconsin.

“With Hansol we are gaining an important partner in Korea and Japan to exclusively represent our products and share critical customer feedback,” Nitride CEO Jeremy Jones said in the release. “Greenpoint brings deep knowledge of companies in Asia that are seeking U.S. manufacturing capability.”

Nitride has developed a process for producing large quantities of aluminum nitride substrates, which are used in solid-state electronics, light-emitting diodes and ultraviolet laser diodes.

The company said the additional funding will be used expand production of its nitride substrates and to speed up introduction of its high-performance thermal management coatings.

This story was originally published March 11, 2015 at 1:51 PM with the headline "Nitride raises $3 million, adds investors."