Canatu, a leader in advanced carbon nanotubes CNT for automotive and semiconductor industries, announced the closing of a 18M€ funding round, led by long-standing investors 3M Ventures, the venture capital arm of 3M, Ascend and eFruit International Inc. New investors to Canatu also included Minth Group Ltd., Nordea, and Varma. With this latest funding round, Canatu has raised a total of 74M€ in financing since 2008.
“With the new funding round, we’ll be able to accelerate the company’s growth in the semiconductor and automotive markets and expand automated manufacturing lines in Finland. It will also enable us to develop new business domains based on the most advanced carbon nanotube technology. This round of funding shows the confidence of our existing and new investors have in Canatu and ensures the company will continue its rapid growth. I am totally excited about the future of the carbon nanotube technology and Canatu.” Says Juha Kokkonen, CEO of Canatu (in picture)
Read more: https://canatu.com/company/carbon-age-news/canatu-raises-18-million-euro-capital-for-growth/
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