Synchrony develops clean and frictionless drive trains, magnetic bearings, high-speed motors and high-speed generators for rotating machinery and power conversion systems. The company has expanded production capacity and reported sales growth, including a $16m sales commitment from McQuay International. Management and investors conducted continued analysis of the global market for Synchrony’s product lines prior to the latest financing. The company received a $10m Series C to support meeting expanding global demand. Earlier financing includes a $5m investment in 2006 and a $10m Series B in 2007 from the same venture investors. Synchrony’s president, Dr. Victor Iannello, stated the new investment will provide resources to satisfy growing worldwide demand for its products.

Total raised

$10M

Funding rounds

1

Latest round

Series C

Latest activity

Jan 2010