Canatu raises 12 Million Euro global funding
Slush, Helsinki, Finland – Canatu Oy today announced a capital raise of 12 Million Euros. The round consists of two new investors, DENSO Corporation and Ascend Capital Partners as well as an existing investor, Faurecia.
“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”, says Juha Kokkonen, CEO of Canatu Oy.
A new strategic investor, Japanese DENSO Corporation, a leading global automotive supplier, invests 6 Million euro to Canatu Oy. DENSO believes Canatu’s 3D technologies offer great product and business opportunities in the future’s mobility technology.
The other new strategic investor, Ascend Capital Partners, is a China and Europe focused venture capital firm, that believes in Canatu’s technologies. They are helping to further Canatu’s expansion into the fast-moving Chinese automotive markets with their investment of 4 Million Euros and simultaneous purchase of existing shares.
Faurecia, one of the world’s largest automotive suppliers, is convinced of the potential of Canatu’s unique formable touch sensors, which enable design freedom for the cockpit of the future. Faurecia wants to deepen the relationship with Canatu through an additional investment of 2 Million Euros.
“DENSO wants to be in the forefront of the development in future mobility. Based on this vision, we wanted to invest to Canatu because we trust the unique technology can be used in several product areas of the future’s driving”, says Hirotsugu Takeuchi , Executive Director, DENSO Corporation.
“Ascend’s strong connections in the automotive industry in Europe and China will help Canatu develop partnerships to expand globally.The trend towards electric vehicles and autonomous driving is a major focus for Ascend as we seek companies with innovative solutions sought by the sector.We believe Canatu’s technology and products show great potential for our OEM and Tier 1 supplier network, and will play an important part in this period of tremendous change for the automotive industry”, says Jörg Buchholz, Partner, Ascend Capital Partners.
Canatu: CEO, Juha Kokkonen, firstname.lastname@example.org , +358 40 543 0367
Ascend Capital Partners: PR Contact, Elaine Mo, email@example.com, Tel: +1 973-978-1719
DENSO Corporation: DENSO PR Contact https://www.denso.com/global/en/contact-us/news
Faurecia: Head of Media Relations, Eric Fohlen-Weill, firstname.lastname@example.org, Tel: +33 (0)1 72 36 72 58
Canatu will be available at the Slush event in Helsinki, Finland 1st of December: With meeting requests, please contact Katja Mälkki, email@example.com, +358 50 594 1776
Canatu images and logo:
Canatu’s solutions bring the design freedom and user experience to the next level for 3D shaped touch devices. Canatu develops and manufactures innovative 3D formable and stretchable films and touch sensors. These transparent and conductive films can be integrated into plastic, glass, textile or leather enabling 3D touch displays, smart switches and other intuitive user interfaces.
Canatu supplies these unique CNB™ films and touch sensors to touch module vendors and OEM’s in several industries, for example automotive and consumer electronics. Canatu is headquartered in Finland, with sales locations in Europe, US, China and Taiwan, Japan and Korea.
Canatu – Shaping surfaces into experiences. www.canatu.com
About DENSO Corporation
DENSO Corp., headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. Its customers include all the world’s major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 38 countries and regions (including Japan) and employs more than 150,000 people. Consolidated global sales for the fiscal year ending March 31, 2017, totaled US$40.4 billion. Last fiscal year, DENSO spent 9.0 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.denso.com, or visit our media website at www.denso.com/global/en/news/media-center/
Ascend Capital is a leading international venture capital and financial advisory firm committed to providing world-class corporate financial services and investment opportunities to innovative companies who have potential to grow and expand internationally, especially in Europe, China, and the United States. With extensive regional and international networks, and insight into Chinese and Western capital market worlds, Ascend has set itself apart from other pure advisory firms and pure private equity funds. For more information, please visit www.ascend-cp.com
Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 330 sites including 30 R&D centers, 100 000 employees in 34 countries, Faurecia is now a global leader in its three areas of business: automotive seating, interior systems and clean mobility. Faurecia has focused its technology strategy on providing solutions for smart life on board and sustainable mobility. In 2016, the Group posted total sales of €18.7 billion. Faurecia is listed on the NYSE Euronext Paris stock exchange and trades in the U.S. over-the-counter (OTC) market. For more information, visit www.faurecia.com