Bothell-based Modern Electron Inc. closed a $30 million venture capital deal Dec. 20, according to a securities filing.
The deal, first reported by GeekWire, is Modern Electron’s second $30 million round in as many years. Last year the sustainable heat and power technology company closed its $30 million Series A2 round in October, tying communications technology startup Kymeta for the 32nd-largest VC deal of 2020 in Washington state. Including this week's round, Modern Electron has raised $70.4 million since its Series A round in 2016, according to PitchBook.
Modern Electron did not respond to a request for comment.
Modern Electron’s backers include Bill Gates, Metaplanet, Invention Science Fund and other angel investors, according to the company website.
Investors in the most recent funding round weren't disclosed.
Modern Electron is a spinoff from Intellectual Ventures. It developed a generator that uses heat to create large amounts of electricity. CEO Tony Pan and Chief Technology Officer Max Mankin founded the company in 2015 while they were working on their doctorate degrees at Harvard. The startup was honored as a PSBJ Innovator of the Month in 2018.
Modern Electron is currently hiring to fill 11 spots on its Bothell team, according to its jobs page. Currently, the company lists 42 employees on its website.
