Finland-based conductive film developer Canatu has raised €15m ($16.3m) from a consortium including corporate venturing unit 3M Ventures and car part makers Denso and Faurecia. Denso provided two-thirds of the money and led the round, while Faurecia invested €2m in its third funding for Canatu.
Canatu designs and produces stretchable, transparent conductive films and touch sensors that facilitate the creation of 3D consumer electronics and automotive technology that can be operated through touch.
Hirotsugu Takeuchi, head of mobility electronics business group at Denso, said: “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.”
David Weill, interiors vice-president of marketing and business development at Faurecia, added: “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.”
Canatu has now raised approximately $73m in debt and equity financing. It secured $6.5m in 2010 from Inventure, Infosto and Tekes, all of which returned for a $12m round led by Troika Ventures in 2013.
The company subsequently received $13.2m in debt financing from European Investment Bank in July 2016, and $11.1m in equity financing from undisclosed investors two months later.
In December 2017, Canatu raised €12m ($14.2m) in funding from investors including Denso, which provided half the money, Faurecia, which invested €2m, and venture capital firm Ascend Capital Partners, which put up the remaining €4m, also buying an undisclosed amount of secondary shares.
