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Novazone, a provider of clean technology solutions for food and water, announced that it has raised $7 million in a Series B financing. The funds will be used for working capital and to develop new products that capitalize on Novazone’s clean technology solutions.
New investor Chrysalix Energy led the round with participation from existing investors, Foundation Capital and Grauer Capital. In addition, Greg Sullivan, managing director of Chrysalix Energy, has joined Novazone’s board of directors.
“The level of interest from our new and current investors reinforces the momentum we’re seeing in the marketplace for our clean technology solutions,” said David Cope, president and CEO of Novazone, Inc. “Global demand for safe food and water without the use of traditional, harmful chemicals is growing dramatically. The additional capital provides the financial depth and support Novazone will need as we accelerate our sales, marketing and development efforts to align with market growth, and to continue to set the benchmark for innovative, science-based solutions that bring the world fresh, safe food and water.”