Today, Canatu announced the closing of an 18M€ funding round led by 3M Ventures, the venture capital arm of 3M, Ascend, and eFruit International Inc. With its most recent funding round, Canatu plans to accelerate its vision to create the most advanced carbon nanotubes for industry-transforming products.
"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," says Juha Kokkonen CEO of Canatu.
With the new capital, Canatu will continue to develop its leading carbon nanotube solutions and technology. As demand for carbon nanotubes in the automotive and semiconductor industries increases rapidly, the company will expand its capacity in carbon nanotube manufacturing. Furthermore, the money will be used to hire new employees in an effort to accelerate growth.
Carbon Nanotube Solutions
Canatu Raises 18-Million-Euro Capital for Growth and Development
Trend Themes
1. Advanced Carbon Nanotubes - Canatu's latest funding round will allow them to develop the most advanced carbon nanotube solutions for industry-transforming products.
2. Increased Capacity in Carbon Nanotube Manufacturing - Canatu will use the new capital to expand its capacity in carbon nanotube manufacturing to keep up with the increasing demand of the automotive and semiconductor industries.
3. Automated Manufacturing Lines - With the new funding round, Canatu plans to expand automated manufacturing lines in Finland to accelerate the company’s growth in the semiconductor and automotive markets.
Industry Implications
1. Semiconductor - The increasing demand for carbon nanotubes in the semiconductor industry presents an opportunity for companies to invest in developing more advanced carbon nanotube solutions.
2. Automotive - As the automotive industry increases its use of carbon nanotubes, there is an opportunity for companies to invest in expanding their capacity in carbon nanotube manufacturing.
3. Manufacturing - Canatu's expansion of automated manufacturing lines presents an opportunity for companies to invest in automating their manufacturing processes for increased efficiency.