C3Nano Inc., a Hayward, Calif.-based performance leader in transparent conductive inks and films for the touch sensor and display industry, closed $15m in equity financing.
The round was led by existing investor GSR Ventures, new investors Nissha Printing Co., Ltd. and Xinjiang Guoli Minsheng Equity Investment Co., Ltd. Other investors included Phoenix Venture Partners, and several undisclosed backers, including a Silicon Valley technology company.
Building on the Series C financing led by Hitachi Chemical and Nagase America, the new round brings C3Nano’s total equity financing to $37m since its 2010 inception.
The company intends to use the new funds to build manufacturing operations in China and increase its capacity in South Korea to support its sales growth. The manufacturing scale up will strengthen C3Nano’s presence in Asia and provide expanded technical and business support to its global customer base. The financing will also fund new technology development and innovation at its headquarters in Hayward, CA.
Founded in 2010 as a spinout from Professor Zhenan Bao’s chemical engineering laboratory at Stanford University and led by CEO Cliff Morris, C3Nano develops solution-based, transparent conductive inks and films as direct replacements for indium tin oxide (ITO).