“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,” said Juha Kokkonen, CEO of Canatu Oy.
A new strategic investor, Japanese DENSO Corporation, a leading global automotive supplier, invested €6 million to Canatu Oy. DENSO believes Canatu’s 3D technologies offer 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. They are helping to further Canatu’s expansion into the fast-moving Chinese automotive markets with their investment of €4 million.
Faurecia, one of the world’s largest automotive suppliers, is convinced of the potential of Canatu’s formable touch sensors, which enable design freedom for the cockpit of the future. Faurecia added an additional investment of €2 million.
“Ascend’s strong connections in the automotive industry in Europe and China will help Canatu develop partnerships to expand globally,” said Jörg Buchholz, partner, Ascend Capital Partners.