Canatu Oy, a Helsinki, Finland-based nanotechnology company, closed a $12m funding.
The round consisted of a $9m equity investment led by Troika Ventures, with participation from existing investors Inventure, and Infosto, and a €3m R&D grant from Tekes, the Finnish Technology Development Agency.
In conjunction with the funding, Artyom Yukhin of Troika Ventures will join Canatu’s Board of Directors.
The company intends to use the capital to finalize its volume manufacturing line for conductive films and touch sensors in Helsinki, Finland, as well as add more resources to key business development activities.
Founded in 2008 as a spin-off from the Aalto University, and led by Risto Vuohelainen, CEO, Canatu commercializes carbon nanomaterial thin films for the electronics, optics and energy sectors. The copmpany has developed a novel form of carbon, NanoBud®, and a new way to directly produce high value components on any substrate from this material by Direct Dry Printing®. These technologies enable roll-to-roll manufacturing of 3D formed, bendable and flexible touch sensors for numerous applications.