Canatu secured $17 million in funding from new and existing investors.

Finland Investments 31 October 2019
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Canatu, a Helsinki, Finland-based manufacturer of 3D shaped films and sensors devices for touch and heater solutions, announced a capital raise of total €15 Million ($17M)

The funding was supported by a new investor, 3M Ventures, as well as by existing investors Denso Corporation and Faurecia.

Denso, which led the round with a contribution of €10 Million, is a global automotive supplier based in Japan, owned partially by Toyota, and also an important industrial partner and technology reseller for Canatu.

Canatu, founded in 2004 and led by CEO Juha Kokkonen, develops and manufactures innovative 3D formable and stretchable films and sensors for touch and heater solutions. 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 as well as 3D shaped heater solutions.

The company has 60 employees, and is yet to become profitable, at a 2018 turnover of €3.6 million ($4M), expecting to see accelerated growth of revenue in 2021-2023.

Prior to this investment round, Canatu raised more than $40M in debt and equity.