Fundraising FoxDropWise Technologies
Cambridge, US · Founded 2014 · 2 known investors
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Uses innovative coating materials and application processes to improve power generation efficiency.
Founders & leadership
DropWise Technologies was founded in 2014 by Adam T. Paxson and Kripa K. Varanasi.
Board
Investors · 2
How we know: NXT Ventures's portfolio page · Not right? Tell us
How we know: the VCSheet dataset · Not right? Tell us
Reported raises · per SEC filings
Form D private placements$3.5M disclosed across 2 rounds · 2015–2017
▶$2.8MraisedMay 2017 · 18 investors · Other TechnologyRule 506(b)
- Karen GleasonDirector
- Colin GoundenDirector
- David C. BorelliExecutive Officer
- Kripa K. VaranasiDirector
- Adam T. PaxsonExecutive Officer, Director
- Annica BlakeExecutive Officer
- Offering amount
- $3.6M
- Amount sold
- $2.8M
- First sale
- May 2017
- Incorporated
- Corporation, Delaware, 2014
- Federal exemptions
- 06b
▶$675KraisedJul 2016 · 4 investors · Other TechnologyRule 506(b)
- Adam T. PaxsonExecutive Officer, Director
- David C. BorelliExecutive Officer
- Karen GleasonDirector
- Kripa K. VaranasiDirector
- Colin GoundenDirector
- Offering amount
- $1.3M
- Amount sold
- $675K
- First sale
- May 2015
- Incorporated
- Corporation, Delaware, 2014
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Non-dilutive funding · 3 SBIR/STTR awards
Federal grants — no equity taken| Agency | Phase | Year | Amount |
|---|---|---|---|
| U.S. NavyNavy | Phase I | 2018 | $125K |
| National Science Foundation | Phase II | 2017 | $724K |
| National Science Foundation | Phase I | 2015 | $149.6K |
Source: SBIR.gov award data (U.S. Small Business Administration). SBIR/STTR awards are competitive federal R&D grants and contracts — non-dilutive capital alongside any venture rounds above.
Frequently asked questions
- What does DropWise Technologies do?
- Uses innovative coating materials and application processes to improve power generation efficiency.
- Who founded DropWise Technologies?
- DropWise Technologies was founded by Adam T. Paxson, Kripa K. Varanasi in 2014.
- Who are DropWise Technologies's investors?
- DropWise Technologies's investors include NXT Ventures, Walnut Venture Associates.
- How much funding has DropWise Technologies raised?
- DropWise Technologies has disclosed $3.5M raised across 2 rounds.
- Where is DropWise Technologies headquartered?
- DropWise Technologies is headquartered in Cambridge, US.