# Novinium

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/novinium

- Industry: Business Support Services
- Headquarters: US
- Website: www.novinium.com
- Total disclosed funding: $26M
- Latest round: Series D (Apr 15, 2016)
- Investors on record: 3

## About

Novinium, Inc. specializes in the rejuvenation of underground power cables, employing innovative cable injection technologies to extend the life and efficiency of electrical infrastructure.Founded in 2003 and headquartered in the United States, Novinium, Inc. focuses on cable rejuvenation services for utility companies. The company was acquired by Southwire Company, LLC in March 2022. Thanos Mellos serves as both CEO and Founder, with a background in electrical engineering and previous entrepreneurial ventures. The company has successfully completed 7 funding rounds, raising a total of USD 19.73 mn, with the latest funding round being Series D, led by SJF Ventures.Novinium, Inc. provides specialized cable rejuvenation services aimed at maintaining and enhancing underground power cables prone to insulation degradation. Their cable injection technology, developed since the 1980s, injects silicone fluid into power cable strands to improve insulation properties and prolong cable lifespan. The company has served over 150 million feet of aging underground cable, primarily catering to utility companies in the United States and Canada, addressing cable reliability challenges without necessitating costly cable replacements.Novinium, Inc.'s revenue is primarily generated through contractual agreements with utility clients for rejuvenation services. These B2B transactions are structured to be cost-effective, with rejuvenation costs being approximately one-third or less than traditional cable replacement. The services are regulatory-approved, facilitating capital-efficient deployments and reinforcing the company's role in maintaining reliable grid operations.Following its acquisition by Southwire Company in March 2022, Novinium, Inc. plans to expand its cable rejuvenation technologies and services into new geographic regions, particularly targeting markets in Europe and Asia by 2024. The recent funding from the Series D round will support the development of new products aimed at enhancing cable performance and reliability, thereby addressing the increasing demand for sustainable electrical infrastructure solutions.

## Funding rounds

- Series D, Apr 15, 2016 — ClearSky Advisors LLC
- Series D, Mar 19, 2015, $20M — SJF Ventures
- Series C, Apr 1, 2008, $6M — Nomura Private Equity

## Investors

- Nomura Private Equity (https://capitalatlas.ai/funds/nomura-private-equity) — Series C
- SJF Ventures (https://capitalatlas.ai/funds/sjf-ventures) — Series D
- ClearSky Advisors LLC — Series D