Ascend et al. in €12m round for Canatu

Denso Corporation contributed €6m, Ascend Capital Partners €4m and French auto parts maker Faurecia invested €2m, according to press reports.  

Ascend's investment is part of a recent funding for four early-stage Finnish technology companies with a total value of €24m. Canatu and TactoTek are related to the automotive sector, while Grundium and Fimmic are healthcare-related businesses.

A previous investor in Canatu, Faurecia was founded in 1997 and is based in Nanterre. The automotive parts manufacturer has a research, development and production network present in 35 countries.

Previous funding
According to press reports, Canatu previously raised more than $30m in equity funding from investors including Tekes, Inventure or Infosto.

Company
Canatu was founded in 2004 in Helsinki and develops and manufactures 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. 

Sales of Canatu's commercial applications and mass production started in 2015. Today the company exports products to Europe, Japan, South Korea, China and the US.

People
Ascend Capital Partners – Monita Mo (CEO); Jörg Buchholz (partner).

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