Arctic Sand Technologies Inc., an MIT spin-off based in Cambridge, said Monday that it closed $9.6 million in Series A financing at the end of 2012.
The company seeks to commercialize a power-conversion platform that has the potential to transform power management in electronic devices.
A syndicate of financial investors, including Arsenal Venture Partners, Northwater Capital, and Ray Stata, and strategic investors, including Dialog Semiconductor and Energy Technology Ventures, awarded the funding to Arctic Sand, the company said in a press release.
According to Arctic Sand cofounder and chief executive Nadia Shalaby, 80 percent of energy generated worldwide is lost as heat due to power-conversion losses.
“Such excessive power inefficiency results in both unnecessary electricity expenses and significantly oversized distribution and generation in serving the world’s rapidly expanding computing and data storage needs,” Shalaby said in a statement. “Arctic Sand’s mission is to help rectify that problem. By cutting power-conversion losses in half and delivering a smaller solution size within the end products, Arctic Sand’s technology empowers device manufacturers to recover energy and space—satisfying the increased functionality demands of their customers.”