BURLINGTON — The manufacturer of boron nitride nanotubes, BBNano, has raised $55,000 in the company’s latest fundraising round, according to an SEC filing signed this week. But it plans to raise more, as the company is actively marketing its crowdfunding investment round that’s garnered more than $300,000 in commitments, putting the company at an estimated valuation of $20 million.
The Burlington, N.C., company, co-founded by CTO Jason Taylor and CEO Steve Wilcenski, is bolstered by its intellectual property portfolio, and according to its website, is transforming commodity materials through a manufacturing process that brings jobs to the county and to the state.
The company says that when its patent-pending product, NanoBarbs™, is added to a commodity, the technology helps improve the material’s natural properties, making it ideal for applications in aerospace, automotive, defense, biomedical, fire prevention, thermal management, and water purification.
According to the SEC filing, the company plans to raise up to $3 million. But the company’s crowdfunding investment campaign can raise a maximum of $1,069,999 and the deadline is May 1, 2021, and the company’s latest SEC Form C/A is made available through the platform.
In 2018, the company raised $40,000 of a possible $500,000 from two investors in August, according to an SEC filing, as well as nearly $241,000 in March, according to the company’s first SEC filing. The company also maintains an office in Cary.
