Thin film sensor startup raises 12 million Euros from automotive suppliers
The company commercializes its CNB film on a polycarbonate substrate, only a few microns thick, that can be stretched to any 3D form for the design of 3D shaped touch functions in place of mechanical buttons.
“These significant strategic investments coupled with partnerships enable Canatu to accelerate product development, further develop the mass production automatization, fasten market expansion, and expand to new strategic product areas. This funding also strengthens our global geographical presence especially in Asia and Europe”, said Juha Kokkonen, CEO of Canatu Oy in a company statement.
A new strategic investor, Japanese DENSO Corporation, a leading global automotive supplier, invests 6 Million euro to Canatu Oy. The other new strategic investor, Ascend Capital Partners, is a China and Europe focused venture capital firm who will help to further Canatu’s expansion into the fast-moving Chinese automotive markets with an investment of 4 Million Euros combined with a purchase of existing shares.
Already an investor in the company, automotive seating and interior systems provider Faurecia contributed to an additional 2 Million Euros of investment.
Canatu – www.canatu.com
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