Modumetal Closes Funding Led by Catamount

Seattle-based Modumetal, an advanced materials and nanotech startup, said today it has closed a second round of venture funding, led by new investor Catamount Ventures, based in San Francisco. The exact amount was undisclosed, but is “several million” dollars, according to Modumetal CEO and co-founder Christina Lomasney. As part of the deal, Mark Silverman of Catamount is joining Modumetal’s board of directors. Modumetal was founded in late 2006 and has developed a new kind of metal that is stronger and lighter than steel; its ultimate goal is to reinvent the metals industry, with initial applications in construction, transportation, and defense. Last year, Modumetal raised more than $1.5 million from investors including Alliance of Angels, Second Avenue Partners, and WRF Capital. Lomasney says the company is now entering “a critical stage of sales growth and production scale-up.”

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