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Wednesday, 26 Apr 2017

Canatu raises Eur 22 million funding to strengthen R&D and increase production capacity

The funding will enable Canatu to respond to market demand and to invest heavily in R&D and manufacturing expansion - including the construction of a new, larger factory

7 Sep 2016 | Editor

Canatu has announced they have received 22 million euros late stage funding via a series of investments of 10 million Eur and a loan of 12 million Eur from the European Investment Bank. This investment is one of the largest investments in a Finnish startup.

The investment comes from a range of new and existing investors such as Inventure and Infosto Group. The latest significant investor is a major global automotive company.

The funding will enable Canatu to respond to solid market demand and to invest heavily in R&D and manufacturing expansion. Plans also include the construction of a new, larger factory.

The company currently employs 40 people worldwide and its headquarters and production facilities are located in Helsinki, Finland. The company expects to double its employee headcount and has already started an aggressive recruitment campaign.

Canatu started operations in 2008 as a spin-off from the Helsinki University of Technology (now Aalto University). Canatu's founding partners – leading senior materials, characterization and aerosol technology scientists – developed and invented a new carbon nanomaterial, the Carbon NanoBud (CNB), which is a hybrid of carbon nanotubes and fullerenes. They also invented a novel CNB thin film manufacturing technology, Direct Dry Printing (DDP).

Canatu manufactures flexible, bendable and 3D formable thin films and touch sensors. The comany said that their competitive edge is the extreme flexibility of its products compared to other materials. The CNB material bends, folds and stretches without losing conductivity. Combined with next generation flexible displays, the company's products offer consumer electronics companies and automotive designers an opportunity to enhance their products and consumer experiences.

Canatu's customers are leading consumer electronics and automotive brands and their Tier 1 suppliers. Canatu's products are found in a range of flexible devices such as wearables, wrist computers, smart watches, smart cards, foldable tablets, and in curved and 3D shaped touch surfaces in automotive center consoles and game controllers.

Canatu - Flexible, bendable and 3D formable thin films and touch sensor

Figure: Canatu - Flexible, bendable and 3D formable thin films and touch sensor

Professor Esko Kauppinen, Aalto University, one of the founders and a Canatu Board Member, said, "I have had the great pleasure to see the company evolve from a research lab to entering the market and beginning commercial manufacturing. Canatu is an exemplary success story in the field of nanotechnology."
Sami Lampinen, Managing Director of Inventure and Chairman of the Board at Canatu, said, "Inventure has been behind Canatu since 2010. We have followed Canatu every step of the way and are extremely excited with the multiple, exciting and innovative projects it is currently involved in with industry-leading brands. Canatu's technology is now steps ahead of its peers."

Canatu started operations in 2008 as a spin-off from the Helsinki University of Technology (now Aalto University). Canatu's founding partners – leading senior materials, characterization and aerosol technology scientists – developed and invented a new carbon nanomaterial, the Carbon NanoBud (CNB), which is a hybrid of carbon nanotubes and fullerenes. They also invented a novel CNB thin film manufacturing technology, Direct Dry Printing (DDP).

In 2012, Canatu was the first in the world to demonstrate roll-to-roll manufacturing of carbon nanomaterials directly on substrate using its DDP machine. Canatu started mass production deliveries in 2015. After more than a year in series production for a demanding automotive customer, without any field returns and with an excellent quality record, Canatu is ready to take the next steps to expand its capacity for leading edge products targeted at innovative consumer electronics brands and leading automotive companies.

Source: Canatu

www.canatu.com    www.eib.org   


About Canatu

Canatu Oy is a leading developer and manufacturer of transparent conductive films and touch sensors for an entirely new class of touch applications.

Canatu's transparent conductive films and touch sensors are based on a new type of carbon nanomaterial (Carbon NanoBud), and a new, single-step manufacturing process combining aerosol synthesis of CNB material and Roll-to-Roll deposition by Direct Dry Printing. Canatu offers consumer electronics companies the ultimate design freedom with its innovative patents.

Source: Canatu

About European Investment Bank

Source: European Investment Bank


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