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NanoSteel Reports $8M Round

The NanoSteel Company, a Providence, RI-based provider of steel alloys made of nano- and micro-sized particles for customers in the mining, offshore oil drilling, and other industries, has raised $8 million of a proposed $11 million round of equity financing, according to an SEC filing. Investors in the round were not specified in the filing, but the firm’s website lists its backers as EnerTech Capital, Milcom Technologies, and Cycad Group. NanoSteel executives were not available for comment earlier this morning.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.

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