According to a story by John Cook of Geekwire, Modumetal has received commitments of more than $10 million in funding from Second Avenue Partners, Catamount Ventures, Chevron Technology Ventures and other funders. More investors will be announced soon. Steve Singh, CEO of Concur Technologies, has been named to the board.
The company says that Modumetal is a revolutionary nanolaminated alloy that is stronger and lighter than steel and will replace conventional metals and composites in many applications, starting with military armor, and eventually in cars, planes, buildings, and other transportation and construction sectors.
Source: John Cook, Geekwire, November 5, 2012 .