U.S-based startup Urbix Resources has announced closing its Series A round of financing with an oversubscribed commitment of $3.5 million USD. The Company states that in addition to current investors and management, this round included an international investment from a management company based in Mexico.
It was gratifying to find ourselves in a position where our funding objectives were oversubscribed, comments Executive Chairman Nico Cuevas. This allows us to focus on our main initiatives including the construction of our low-cost/clean tech pilot purification facility and the construction of our proprietary pristine graphene reactor. This leads us to our goal of bringing graphene at a commercial scale to the market at about $1 per gram.
A big part of the work we’re doing right now is drawing a map for success, says Vice-Chairman, Anthony J. Parkinson. These are talented young men with big vision. It’s been my pleasure to guide them and help them make their vision a reality. Closing the Series A puts us all in a position to bring it home.