Canatu Oy, a spin-off from Aalto University, was granted €22 million in funding
Canatu is an exemplary success story in the field of nanotechnology, says Professor Esko Kauppinen. Photo: Kira Leskinen.
Canatu Oy, founded in 2008 by Professor Esko Kauppinen and his research colleagues, has received €22 million in late stage investment. The amount consists of investments made by different parties totalling €10 million and a loan of €12 million granted by the European Investment Bank, and is one of the largest amounts of funding that Finnish start-up companies have ever been granted.
Canatu Oy manufactures flexible and formable carbon nanomaterial film for touch screens and sensors. The product is based on a hybrid carbon nanomaterial, named Carbon NanoBud®, which Kauppinen and his research group invented in 2006.
‘I have had the great pleasure to see the company evolve from a research lab to entering the market. Canatu Oy is a success story in the field of nanotechnology,’ Kauppinen says delighted.
Until now, the carbon nanomaterial film has been manufactured for an important customer in the car industry. Encouraged by excellent experiences, the company now intends to expand its production to innovative consumer electronics and the needs of other businesses in the car industry. Canatu Oy will invest this funding in R&D and expanding its production, and there are also plans to build a new, bigger factory. The company’s headquarters and production facilities are in Helsinki. Canatu Oy currently employs 40 people, but intends to double this number in near future.
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