Xenon Arc Nabs $6.9M
Xenon Arc, a Redmond, WA-based company in stealth mode, has raised $6.9 million in equity financing out of a deal that could be worth as much as $15.5 million, according to a regulatory filing. The founding team includes Chad Steigers, Chris Jardine, Edward Lux, and Adeline Honnas, who previously worked together at Bellevue, WA-based ChemPoint, an e-distributor of specialty chemicals, according to their profiles on LinkedIn. The document doesn’t say who invested in the new company, although it does say six investors participated in the deal. Weston Presidio led the financing, according to research from CB Insights.