C3Nano Inc, the performance leader in transparent conductive inks and films for the touch sensor and display industry, announced that it has closed $15 million in equity financing.
The latest financing was led by existing investor GSR Ventures, new investors Nissha Printing Co., Ltd. and Xinjiang Guoli Minsheng Equity Investment Co., Ltd. Other investors included Phoenix Venture Partners, and several undisclosed investors, including a leading Silicon Valley technology company. Building on the Series C financing led by Hitachi Chemical and Nagase America, the new round brings C3Nano's total equity financing to $37 million since its 2010 inception.
C3Nano will use the new funding to build manufacturing operations in China and increase its capacity in South Korea to support its sales growth. The manufacturing scale up will strengthen C3Nano's presence in Asia and provide expanded technical and business support to its global customer base. The financing will also fund new technology development and innovation at its headquarters in Hayward, CA.
Kevin Yin, GSR Partner and C3Nano board member who led the original investment to spin-off C3Nano from Stanford University, stated "C3Nano has demonstrated clear business foresight in driving industry-leading technology, and has built one of the world's most advanced materials R&D and engineering organizations. They continue to innovate, setting the very best market performance standard through each product delivered."
"We're excited to establish a strong position in the flexible sensor market with C3Nano's technology. We look forward to working with them as we grow the market together." asserted Daisuke Inoue, Executive Vice President at Nissha.
C3Nano CEO Cliff Morris shared, "We are delighted to welcome our new investors and thank our existing investors for their continued support. As the OLED and flexible display markets accelerate and with the commitment of our strong investors, strategic industry partners, loyal customers, and dedicated employees, C3Nano is globally positioned to grow and prosper. I see a bright future for us all."
Source and top image: C3Nano Inc