Persimmon Technologies Corp., a Wakefield company that provides vacuum robotics and hybrid-field motor technology to the semiconductor and other industries, said Monday that it has closed a $5.8 million Series B funding round.
Intel Capital and The Bernard M. Gordon Charitable Remainder Trust join Nidec Sankyo as major equity holders in the company, Persimmon Technologies said.
In a press release, the company said that the new funding will help Persimmon expand its vacuum robotics product portfolio, invest further in the development of its hybrid-field motor technology, expand global distribution, and ramp up manufacturing operations.
“We are excited to add Intel Capital as an investor,” Michael Pippins, president and chief executive of Persimmon Technologies, said in a statement. “Intel Capital’s support of Persimmon will accelerate the development of our technology and the growth of our company. Also, we are very pleased to add The Gordon Trust as an investor. Bernard Gordon, the founder of Analogic and a renowned technologist, is a strategic addition to our investor base. We intend to benefit from his experience in building significant technology companies.”
According to the company’s release, hybrid-field technology can replace the traditional stamped and laminated sheet metal motor stators with spray deposition technology developed in part from Persimmon’s experience in semiconductor technology.
In an earlier press release, the company said that the commercial potential of this project is to enable production of electric motors with improved performance and efficiency while reducing cost and material scrap associated with manufacturing of motor winding cores.