Finnish Startup Raises €15 Million Funding

Canatu, one of the hottest startups in Europe according to Wired’s
Europe’s 100 Hottest Startups 2018 has just announced a capital raise of total €15 Million, from both a new investor, 3M Ventures, as well as existing investors: DENSO Corporation leading the round and Faurecia.

“We are excited to be able to scale up our automotive business and mass production with our existing investors and to start expansion to new business and product domains with our new investor 3M. We will continue developing the award-winning Canatu products, IP and production technology to further improve our competitiveness”, says Juha Kokkonen, CEO of Canatu Oy.

DENSO Corporation, a leading global automotive supplier, believes Canatu’s 3D technologies offer great product and business opportunities for the mobility technology of the future and therefore further invests in Canatu with €10 Million.

3M Ventures identifies and invests in highly innovative companies and disruptive new technologies with strategic relevance for 3M.

Faurecia, one of the world’s leading automotive technology companies, is convinced of the potential of Canatu’s unique formable touch sensors, which enable design freedom for its Cockpit of the Future. Faurecia wants to continue the technology and business relationship with Canatu through an additional investment of €2 Million. The investment is Faurecia’s third investment in Canatu, reflecting the long-term relationship and strong commitment to Canatu.

“DENSO Corporation wants to be in the forefront of the development in future mobility, especially in Advanced safety and Autonomous driving. We will further contribute to the development of Automated driving technologies and deliver genuine peace of mind for the future of mobile society, by enhancing our long-cultivated sensing technologies as well as our AI and information technology. Based on this vision, we decided to further invest in Canatu because we trust that Canatu’s unique technology can make future’s driving safer and more comfortable experience. This technology can be used in several product areas, for example, AD/ADAS sensor must remain reliable in any weather conditions, and Canatu’s technology can keep sensors functional at all times. On the other hand, within the car interior, the technology enables new, innovative HMI solutions to the cockpit area and can be utilized to enhance DENSO’s cockpit architecture”, says Hirotsugu Takeuchi, Head of Mobility Electronics Business GroupDENSO Corporation.

“Faurecia is pioneering comprehensive technologies offering that makes the Cockpit of the Future a reality today. Thanks to its versatile architecture and smart Human Machine Interfaces (HMI), Faurecia’s cockpit will adapt to occupants’ use cases to ensure a personalized experience in all driving modes. We believe Canatu’s 3D materials can shape the interior design of the future’s cockpit”, says David Weill, Interiors VP Marketing & Business Development at Faurecia.

Canatu is one of Finland’s biggest physical tech success stories. The company, founded in 2004, has more than 100 patents, and supplies conductive films and touch sensors to touch module vendors and manufacturers working in the consumer electronics and automotive industries. Its main development is an all-new material it called Carbon NanoBud, which can be formed into almost any shape without breaking, thanks to a high stretch rate and small bending radius.