Persimmon Technologies Corp., a Wakefield-based provider of vacuum robotics and hybrid-field motor technology, said it has completed a $14 million Series B funding round that it plans to use to expand its product portfolio.
New investors the ABB Group and Berwind Private Equity joined Intel Capital, Nidec Sankyo, and the Bernard Gordon Charitable Remainder Trust in the round, Persimmon said in a Tuesday press release.
Persimmon’s advanced robotics and automation systems are designed semiconductor and solar equipment markets among many others.
In making motor components, Persimmon uses 3D deposition processes that aims to increase power density, eliminate manufacturing steps, and reduce costs.
The company previously had raised $6 million from investors including Intel Capital.
Chris Reidy is a business reporter for the Boston Globe. Email him at email@example.com.