Nanostructured Metals & Coatings

Home Technology Application Areas Our Team Careers News

Marlborough, Mass., October 8, 2008--Xtalic today announced that it had raised $10 million in venture-capital financing from two leading venture capital firms, Matrix Partners and North Bridge Venture Partners, and an investment consortium led by James Wolfensohn, former head of the World Bank. The funding will help Xtalic further commercialize and launch its tailored nanostructured metal coatings to industrial and electronics markets.

“Xtalic has built on the groundbreaking work of Professor Chris Schuh, a leading metallurgist at MIT, to create high performance metal and metal coatings with nanostructures optimized for a wide range of applications,” said Tom Clay, CEO of Xtalic. “Our products have radically enhanced properties that deliver improved performance in a wide variety of applications. Our products deliver these advantages with a safety and environmental profile that is significantly better than the existing options in the marketplace.”

Xtalic’s unique control of metal nanostructure has created a new class of performance materials. Xtalic provides chemistry and control software to allow customers to apply these performance coatings in a simple, low cost electroplating process. These new materials help create and support advances in a range of electronics and industrial applications.

"Over the past two years we have successfully moved the technology to product completion and full scale industrial trials,” said Alan Lund, Xtalic’s CTO. “Our team is very excited to be taking our product to launch in a wide range of customer applications.”

All three investors, Matrix Partners, North Bridge Venture Partners and the Wolfensohn consortium, participated in the series A investment round in July of 2007. “We are thrilled by the progress we have seen and the widening range of applications for this breakthrough technology,” said Stan Reiss of Matrix Partners, who led this investment round.

Xtalic offers unique nanostructured metal coatings that provide corrosion resistance, wear resistance and exceptional appearance across a wide range of applications, including decorative and functional metal finishing, as well as electronics. Xtalic’s technology delivers premium performance through precisely and dynamically controlling metal structure at the nanometer scale through a robust electroplating process. Xtalic’s coating process is free of hexavalent chromium, reducing environmental compliance costs and worker safety hazards. Xtalic was founded in August of 2005 to commercialize the work of Professor Chris Schuh and Dr. Alan Lund of MIT. 

North Bridge Venture Partners is an active, early-stage venture capital fund based in the Boston, Massachusetts area. For North Bridge, success is a partnership with management that produces leading public companies in large emerging markets. Working closely with entrepreneurs, North Bridge adds value by providing strategic guidance, specific industry knowledge, team-building skills, and an in-depth understanding of both private and public financings. 

Since 1977, Matrix Partners has been dedicated to helping outstanding entrepreneurs build industry-leading technology companies. Matrix focuses on companies developing cornerstone technologies of the information revolution. Matrix has played a founding role in companies that include Starent Networks, Aruba Networks, Airvana, Netezza, Applix, ArrowPoint Communications, Alteon WebSystems, Clarify, OnDisplay, SilverStream Software, Sonus Networks, Sycamore Networks, Tivoli Systems, , and Veritas Software.