Impact Nano Raises $32 Million in Total Funding to Expand U.S. Manufacturing of Advanced Materials
The company will expand its Massachusetts factory and workforce to accelerate materials development efforts while maintaining a commitment to safe manufacturing
Devens, MA – May 4, 2023 – Impact Nano L.L.C., a U.S.-based chemical manufacturing company enabling sustainable computing with advanced materials, has raised $32 million in total funding in successive rounds from Goldman Sachs Asset Management, Intel Capital and other investors. In conjunction with the latest financing, Sean Doyle, Intel Capital Managing Director, will join the board of directors.
Impact Nano develops and manufactures critical materials suitable for multiple industries including semiconductor, energy storage and healthcare markets. Impact Nano’s initial focus on volume manufacturing within North America aligns with the expected growth of the industries it serves domestically, including the semiconductor supply chain, and its manufacturing base is capable of supporting customers worldwide.
As an advanced materials supplier, Impact Nano has expertise in ligand, organometallic, silicon, and fluorine chemistries and supplies patterning photoresists, deposition organometallics, and etching gasses that enable the fabrication of leading-edge integrated circuit designs. Impact Nano maintains a strong commitment to safety and addresses global sustainability challenges in advanced materials development and manufacturing by employing green chemistry and circular manufacturing approaches, reducing the environmental impact of computing and semiconductor manufacturing.
“Impact Nano plays a critical role by manufacturing materials with precisely controlled chemical fingerprints, enabling atomic level control in advanced semiconductor fabrication,” said Matthew Stephens, CEO and Co-founder of Impact Nano. “We are excited to announce Goldman Sachs and Intel Capital's investment towards our efforts to safely produce materials in the U.S., thereby addressing overseas supply chain challenges.”
“We are excited to team with Intel Capital to accelerate the growth of Impact Nano through the recent funding,” said Jeff Possick, a Managing Director in Goldman Sachs Asset Management. “The capital will help enable the Impact Nano team to capitalize on the increasingly high volume of business opportunities available in the current environment.”
“Impact Nano is establishing a safety-first source for on-shore manufacturing of advanced materials in the U.S.,” said Sean Doyle, Managing Director, Intel Capital. “Impact Nano founders Matt Stephens and Mark Wilkinson are experienced leaders in the specialty chemical domain, and their expertise will enable Impact Nano to be a quality source of materials innovation and domestic supply for advanced materials.”
This financing round comes on the heels of a year of major accomplishments including the qualification of products at multiple end users, tripling its customer base, achieving ISO certification, and scaling up four processes successfully.
The funding will allow Impact Nano to expand its North American manufacturing capacity, materials development pipeline, storage and distribution capabilities. The company will also increase local hiring and accelerate its development efforts to address the application and supply chain needs of its customers.
About Impact Nano
Impact Nano is an advanced materials supplier that emphasizes safety for its employees, the community and the environment. Based in Devens and Orange, MA, the company is creating high-quality technical and manufacturing jobs in Central Massachusetts and the Pioneer Valley. Led by repeat founders with over 40 years of combined experience in advanced materials, Impact Nano’s leadership team has brought more than 30 products to market for the semiconductor, green energy, automotive and pharmaceutical industries. The company was founded in 2019 and has raised over $30 million in capital to date.
About Goldman Sachs Asset Management
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2.5 trillion in assets under supervision worldwide as of December 31, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Follow us on LinkedIn.
About Intel Capital
Over three decades, Intel Capital has invested more than US $20 billion in the future of compute, funding standout, early-stage startups across four key areas of the tech ecosystem; Silicon, Frontier, Devices and Cloud. Intel Capital-funded companies created more than US $150 billion in market value in the past 10 years. For more information, visit www.intelcapital.com or follow @Intelcapital.