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Canatu closes 4.7 Million Euro Financing Round
19.10.2010 11:3429.9.2010 Canatu Ltd. Closes 4.7 Million Euro Financing Round
Canatu Ltd., a leading edge nanotechnology company commercializing carbon NanoBudâ„¢ thin films for the electronics, optics and energy sectors announced today a 4.7 Million Euro investment package from Inventure Ltd., Infosto Ltd. and Tekes (the Finnish technology development agency) to fund its production development. Canatu's first products are flexible, robust and environmentally friendly transparent conductor films for user interfaces such as touch screens. Sami Lampinen of Inventure will join former Nokia CTO, Dr. Yrjö Neuvo, Aalto University Professor, Esko Kauppinen and CEO, Dr. David Brown on the Board of Directors. Ari Ahola of Infosto, Canatu's original angel investor, will continue as Chairman.
"We at Canatu are delighted to welcome Inventure to our team and to have Infosto reinvest. Both are proven and well respected investors whose collective experience, energy and focus will be invaluable in driving our final push to market", said David Brown, CEO of Canatu. "Canatu is one of Finland's most promising nanotechnology companies providing disruptive technology to fast growing global touch screen and haptic interface markets. We believe that Canatu will play a significant role in the future display industry", says Sami Lampinen, Managing Director of Inventure.
Inventure is a technology investor in early stage companies, actively supporting growth oriented entrepreneurs to internationalize Nordic success stories. Inventure's entrepreneur driven team works actively with the portfolio companies and brings their knowledge and network's support. Founded in 2005, Inventure manages funds with over EUR 53 million in total capital base. Inventure's portfolio companies include Beneq, Conmio, Freespee, Protie, Rightware, Silex Microsystems, and Upstream Engineering.
Mr. Ahola was a fighter pilot for the Finnish Air Force until 1993. He is the owner and CEO of Infosto Group, an investor in early stage companies. In addition to Canatu, Infosto's portfolio companies include, Academica, BioZone Scientific International, Confidex and Qvantel. Successful investments and trade sale exists in Finland have been Infosto Mediat and Suomen Terveystalo.
Founded in 2004, Canatu is a spin-off from the Helsinki University of Technology (now Aalto University). Canatu's business is the production and sales of a new class of versatile nanomaterial based films and components. Canatu has developed a novel form of carbon, namely NanoBuds, and a new way to directly produce high value components on any substrate from this material by Direct Dry Printing. These components improve the performance and reduce the cost of optical and electrical devices and diminish their environmental footprint. Canatu is currently developing its flexible thin film NanoBud components and production processes to supply display, touch, photovoltaic, tracking and haptic customers in the optics, energy and electronics sectors.
Canatu has patents and patents pending covering: NanoBuds and their applications in, for instance, displays, electronics, optics, energy storage and drug delivery, novel Carbon Nanotube and NanoBud production methods, novel CNT and NanoBud separation methods, methods for characterizing nanomaterials, CNT and NanoBud thin film and component production methods and a wide array of NanoBud based devices. Consequently, Canatu has important IP in the entire value chain from synthesis to products.
For details contact Dr. David Brown, CEO, david.brown canatu.com, Tel +358 50 344 4204 or Mr. Mikko Karkkainen, COO, mikko.karkkainen canatu.com, Tel +358405337872
Canatu, a Finnish narbon nanotech start-up company, wins a 2009 Red Herring Global 100 award
Red Herring on Friday 14th of January announced the recipients of the Global 100 award in recognition of the leading private high tech start-up companies from around the world. The Finnish nanotechnology based electronic component company Canatu Oy was announced as one of the winners at the award ceremony in Laguna Niguel, California.
Red Herring’s Global 100 list has become a mark of distinction for identifying promising new companies and entrepreneurs. Red Herring editors were among the first to recognize that companies such as Google, Yahoo, Skype, Netscape, Salesforce.com, YouTube, and eBay would change the way we live and work.
“Choosing the best out of the previous three years was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “After rigorous contemplation and discussion, we narrowed down our list from 1,200 potential companies to 200 finalists. Trying to get it down to 100 companies was a task upon itself. The top 100 companies who were chosen should be extremely proud, the competition was difficult.”
"Winning the prestigious Red Herring Global award is a great honor for our company and a recognition for our continuing success in progressing flexible, transparent environmentally friendly and low cost organic electronics", said Dr. David Brown, co-founder and CEO of Canatu. “This year we were the only Finnish company to win the award and one of a select few pre-revenue companies ever to receive this recognition. Ours is a widely applicable platform technology that can truly transform the electronics industry. I believe the Red Herring committee understood that.”
Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the “buzz” and make the list an invaluable instrument of discovery and advocacy for the greatest business opportunities from around the world.
About Red Herring
Red Herring is a global media company which unites the world's best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com.
About Canatu
Founded in 2004, Canatu is a spin-off from the Aalto University School of Science and Technology (formerly known as Helsinki University of Technology TKK). Canatu's business is the production and sales of a new class of carbon nanomaterial based transparent conductive and semiconductive films and components.
Nanotechnology allows us to take advantage of materials in ways unimaginable only a decade ago. Especially carbon based nanotechnology enables us to replace many of our current materials, such as indium, gold and silicon.
Canatu has advanced the state-of-the-art by developed a novel carbon nanomaterial, namely NanoBuds™ with unique physical, electrical and optical properties, and a new printing method to cleanly and efficiently produce carbon nanomaterial based components in a technique similar to newspaper printing. These components improve the performance and reduce the cost of electrical and energy devices while, at the same time, reducing their environmental footprint. Canatu products are expected to be incorporated into displays, solar cells, user interfaces, logic circuits, speakers, lasers and memory elements.
Canatu has 11 families of patents granted and pending covering: NanoBuds™ and their applications in, for instance, displays, electronics, optics, energy storage and drug delivery, novel Carbon Nanotube and NanoBud™ production methods, novel CNT and NanoBud™ separation methods, methods for characterizing nanomaterials, CNT and NanoBud™ thin film, low temperature component production methods and a wide array of NanoBud™ based devices. Consequently, Canatu has important know-how and IP in the entire value chain from synthesis to products.
For details contact Dr. David Brown, CEO, david.browncanatu.com, Tel +358 50 344 4204 or Mr. Mikko Kärkkäinen, COO, mikko.karkkainen@canatu.com, Tel +358405337872