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Canatu raises 12 million euros global funding

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Staff Writer | December 1, 2017
Canatu
Finance   Japanese DENSO Corporation

Canatu 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.


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