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§ Private Profile · 26225 Eden Landing Rd Suite D Hayward, CA 94545 United States
Nelumbo is a technology company.
Nelumbo develops advanced materials technology, specializing in high-performance coatings. These innovative coatings primarily enhance heat exchangers in refrigeration and HVAC systems, boosting efficiency and durability. The company's material science expertise also applies to other industries like textiles, demonstrating a versatile technology platform for improving various product functionalities through surface engineering.
Co-founded in 2016 by Liam Berryman, a University of California, Berkeley alumnus, Nelumbo stemmed from an insight into leveraging sophisticated materials science for industrial value. Emerging from Berkeley, the founders aimed to translate scientific breakthroughs into practical, impactful solutions, initially focusing on critical thermal management challenges across various sectors. This foundational principle guides their development approach.
Manufacturers in industries demanding superior thermal performance, such as commercial refrigeration and air conditioning, adopt Nelumbo’s material solutions. The company's mission is to equip partners with materials that solve complex engineering problems and foster more efficient, sustainable product lines. Nelumbo envisions continually expanding its advanced material innovations across diverse global markets to deliver lasting value.
Nelumbo has raised $22.0M across 3 funding rounds.
Nelumbo has raised $22.0M in total across 3 funding rounds.
Nelumbo is a materials technology company specializing in advanced surface modifications to enhance energy efficiency and durability in products like refrigeration systems, HVAC units, and textiles. Founded in 2015 by UC Berkeley engineers, it developed a scalable platform for anti-icing, corrosion resistance, and water-repellent coatings, reducing carbon emissions and energy use in heat exchangers and beyond[1][2][4]. The company shipped products to customers, deployed pilot manufacturing, and raised $21.35M before its acquisition by Kuraray in April 2025, accelerating global expansion into polymers and fibers[2][5].
Serving industries such as HVAC, refrigeration, and textiles, Nelumbo solves persistent challenges like frost buildup and corrosion, which degrade efficiency in air conditioners and industrial systems impacting billions. Post-acquisition, as "Nelumbo, A Kuraray Company," it continues innovating with 24 patents in areas like fluid dynamics and ceramics, recognized by the U.S. Department of Energy and investors including Danfoss Ventures and Photon Fund[1][2][4].
Nelumbo emerged from UC Berkeley in 2015 (some sources note 2016), founded by engineers Dave Walther, Ph.D., Liam Berryman (current CEO), and Lance Brockway, Ph.D., driven by a vision to mainstream materials science for societal impact[1][4][5]. The idea stemmed from their lifelong passion for surface technologies, targeting frost and corrosion in heat exchangers—a market with massive energy waste and global reach[1][4].
Early traction included partnerships, product shipments, and pilot scaling, earning accolades like Forbes 30 under 30, Cyclotron Road, and U.S. Department of Energy recognition. Funding milestones featured a $14M Series A expansion led by Prime Mover’s Lab and UTEC, culminating in Kuraray's 2025 acquisition after an exclusive 2023 partnership on fiber applications[2][5][6].
Nelumbo rides the wave of sustainable materials innovation, addressing climate-driven demands for energy-efficient HVAC and refrigeration amid rising global cooling needs—projected to consume 10% of electricity by 2050. Its timing aligns with PFAS phase-outs and net-zero goals, replacing harmful chemicals with scalable, drop-in coatings that cut emissions in billion-unit markets[1][2].
Market forces like regulatory pressures on energy use and corporate sustainability pledges favor its tech, influencing ecosystems via alliances with giants like Kuraray (fibers/textiles leader) and Danfoss (HVAC). As a Kuraray asset, it amplifies U.S.-Japan tech transfer, boosting adoption in high-value chains where Japanese firms dominate[4][5].
Post-2025 acquisition, Nelumbo will likely expand Kuraray's portfolio into energy-efficient surfaces for global HVAC, textiles, and beyond, leveraging Kuraray's manufacturing scale for mass adoption. Trends like electrification, decarbonization, and bio-based alternatives will propel growth, potentially disrupting $100B+ refrigeration markets.
Its influence may evolve from startup pioneer to integrated platform, enabling "fingerprints" on everyday products while sharing value across supply chains—echoing its founding mission to redefine materials for a sustainable world[1][5].
Nelumbo has raised $22.0M across 3 funding rounds. Most recently, it raised $2.0M Other Equity in August 2020.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 4, 2020 | $2M Venture Round | Janea Scott | — | Announced |
| Apr 1, 2020 | $14M Series A | Prime Movers LAB, Keisuke IDE | 305 Ventures, C3 Ventures, Harmonix Fund, SQN Venture Partners, BEN Davenport, Berkeley Catalyst Fund, Danfoss, Darwin Venture Management, Neue Fund, Photon Fund, Safar Partners | Announced |
| Jul 1, 2018 | $6M Series A | Laura Smoliar | AHC, Harmonix Fund, Prime Movers LAB, 1517 Fund, Danfoss, Photon Fund, UPC Renewables | Announced |
Nelumbo has raised $22.0M in total across 3 funding rounds.
Nelumbo's investors include Janea Scott, Prime Movers Lab, Keisuke Ide, 305 Ventures, C3 Ventures, Harmonix Fund, SQN Venture Partners, Ben Davenport, Berkeley Catalyst Fund, Danfoss, Darwin Venture Management, Neue Fund.