Cocona has raised $15 million in a new round of equity financing to help streamline its operations, expand its product line, develop new applications for its technology and build up its brand. A new minority shareholder, controlled by H.I.G. Growth Partners, has emerged through the deal. Two earlier minority investors, Fairhaven Capital and OnPoint Technologies, participated in the round. Craig Burton, managing director of H.I.G. Growth Partners, is joining Cocona's board of directors, bringing over with him many years of commercial and investment experience. Increasingly used in the sports and outdoor sector, Cocona's patented technology permanently incorporates natural active and microporous particles into fibers, fabrics, polymers and films that increase breathability, dry times, UV production and odor management.

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