Wednesday, June 19, 2013

Superconductor Technologies Spinout Gets Funding

Austin-based Superconductor Technologies said Tuesday that Resonant Inc., a spinout of the company, has raised $7M in a funding round. Superconductor Technologies said the private placement came from new investors, but that the company continues as a minority stakeholder. Resonant is developing wireless technology. Superconductor Technologies did not provide any other details on the new investors in Resonant, but did say the transaction makes the Resonant's new investors and management majority shareholders in the new company. Superconductor Technologies spun out Resonant back in February.