Cocona Inc. received a “major capital investment” from Fairhaven Capital. Sources at both Cocona Inc. and Fairhaven declined to disclose the exact investment amount. Fairhaven is an early stage private equity investment firm that has historically pursued companies in the technology sector. Its last three strategic “exits” were acquired by AOL, Microsoft and IBM, respectively. Brad Poorman, president of Cocona, Inc. said that the new capital will allow the company to ramp up marketing and new product R&D.
Cocona Receives Capital Infusion
Cocona Inc. (formerly Traptek, LLC) has received a “major capital investment” from Fairhaven Capital, a leading early- and growth-stage venture capital firm based in Boston, Massachusetts. Sources at both Cocona Inc. and Fairhaven declined to disclose the exact investment amount.
“This funding will enable us to aggressively market Cocona fabrics and to continue development of additional natural technology products for our brand partners,” said Brad Poorman, President, Cocona, Inc.
“We think that Cocona, Inc. is the most exciting new fabric and film technology to come along since Gore-Tex®,” said Jim Goldinger, Managing Director, Fairhaven Capital. “Cocona fabrics and yarns have already been adopted by many impressive brands as a means to differentiate their products with this patented technology. They recognize that Cocona, Inc. has come up with a green technology that adds genuine, documented performance characteristics.”
