C3Nano, a Hayward, CA based developer of the nanomaterial-based, solution coat-able transparent conductive material Active-grid™, raised $12m in Series C funding.
The round was led by Nagase America Corporation and an undisclosed large-cap global industrial company with participation from existing investors GSR Ventures and Phoenix Ventures Partners (PVP) and private investment group Hongguo International Holdings Limited.
The company intends to use the funds to expand its manufacturing capacity and organization at its Hayward facility and R&D of several complementary advanced materials and new products.
Founded in 2010 and led by Cliff Morris, CEO, C3Nano has developed solution-coated, transparent conductive materials to substitute indium tin oxide (ITO) in devices of today and tomorrow. It works with global and Asia-based companies serving the consumer electronics supply chain, including chemical companies, converters, coaters, and device makers.
The company is a spinout from Professor Zhenan Bao’s chemical engineering laboratory at Stanford University.