Flywheel firm Vycon raises USD14m

Fri Jan 22 2010, 15:18 PM UTC

California-based Vycon has raised USD13.7m in a funding round led by BankInvest Group. Existing investors including Calnetix, Cooper Capital, Dynamics Venture Management and Sumitomo also participated in the round. The funding includes the conversion of USD6.5m in existing convertible notes and USD1.1m in debt. The firm develops flywheel energy storage systems and plans to use the funding to expand manufacturing capacity.

Deal Details

RELATED ARTICLES