CAMBRIDGE, Mass.--(BUSINESS WIRE)--actnano, Inc., a global leader in surface protection technologies for automotive and consumer electronics, announced today the close of an oversubscribed $21.75 million Series B financing led by BMW i Ventures. Additional new investors include HELLA Ventures and TDK Ventures. All Series A investors, including Emerald Technology Ventures, GC Ventures America, Henkel Tech Ventures, Ireon Ventures and Material Impact, also participated in the round.
actnano specializes in water and environmental resistant nanocoating technologies. The company’s innovative surface protection solutions are trusted by global automotive and consumer electronics OEMs and Tier-1 suppliers. actnano’s nanoGUARD technologies are currently protecting electronics on over 2 million production vehicles, including 80% of EVs in North America, as well as many of the world’s leading consumer devices. actnano will use the new funds to expand its global sales and technical teams, as well as ramp up production to meet the significant increase in demand for their product.
“Our technology surpasses all other electronics protection available in the industry today,” said Taymur Ahmad, CEO of actnano. “The strong automotive backing shown in this investment round confirms our belief that basic vehicle safety protections should not be overlooked. For ADAS and AV systems to operate without failure, they need 100% protection from salt, condensation, and humidity to protect the numerous sensors and processors that run them. actnano can provide that protection.”
Lead investor, BMW i Ventures, successfully invests in cutting-edge solutions with the potential to impact BMW Group’s current and future business. Their current investment portfolio includes a variety of high-tech mobility companies, with actnano standing out as the sole automotive electronics protection technology provider.
“The proliferation of electronics in the car, especially with the broader industry push toward autonomous driving and electrification, will necessitate greater protection of mission-critical electronic components in the vehicle,” said Kasper Sage, Managing Partner at BMW i Ventures. “actnano’s nanocoatings have proven to be superior in performance and bring distinct cost-advantages compared to traditional alternatives, making it a game-changer to secure generations of vehicles to come.”
HELLA Ventures is a multi-stage fund focused on mobility, deep tech, and industrial manufacturing investments. As a leading Tier I supplier of electronic components and systems to the automotive industry, HELLA is uniquely positioned to partner with actnano in developing new applications of its nanocoating technology for other additional automotive products.
“actnano is exactly the kind of company we look for when we evaluate potential partners to become part of our portfolio of advanced mobility technology companies. Not only have they developed a groundbreaking technology, but they were able to commercialize it with some of the largest automotive and consumer electronics players,” said Marco Marinucci, head of HELLA Ventures. “We have been particularly impressed with the management team’s manufacturing experience, relentless execution, and vision for the future.”
TDK Ventures, a subsidiary of Japanese electronics manufacturer TDK Corporation, is partnering with actnano to leverage its experience in electronics components and systems in support of actnano’s ground-breaking work across the fields of automotive, consumer electronics, and industrial systems.
“actnano has developed an innovative coating technology that has shown rapid adoption across automotive and consumer electronics markets, and can protect a wide variety of electronics components, devices, and systems. actnano’s coatings are safe, non-toxic, and environmentally friendly while offering higher performance than incumbents’ solutions in protecting against harsh environmental conditions,” said Andrew Maywah, Investment Director at TDK Ventures. “TDK Ventures is excited to invest in actnano and partner with them to accelerate market adoption and open up new opportunities globally.”
Electronics continue to become increasingly sophisticated, constantly integrating new and complex capabilities and advancing connectivity technology. actnano is well-positioned to protect a variety of consumer electronics, in addition to the critical automotive electronic components that help ensure the safety of passengers and their families.
About actnano, Inc.
actnano is setting a new standard for electronics protection with its commercialized water and environmental resistant nanocoating technology, Advanced nanoGUARD™. The company’s surface protection technologies can be applied directly on connectors, antennas, LEDs, and high heat generating components, allowing electronics manufacturers to comprehensively safeguard their devices for the first time. With a scalable, turnkey solution that seamlessly integrates into existing manufacturing lines, actnano is positioned to expand its global footprint with leading automotive and consumer electronics manufacturers. Today the company is a trusted partner to global automotive and consumer electronics OEMs and Tier-1 suppliers as customers and investors. ANG technology is already integrated into production vehicles and the world’s leading consumer devices. For more information, please visit www.actnano.com.
About BMW i Ventures
BMW i Ventures is BMW’s venture capital firm, investing money and resources in startups in the fields of Transportation, Manufacturing, Supply Chain and Sustainability. The firm has made many successful investments over the years in companies such as CelLink, Chargepoint, Urgent.ly, Proterra, PureCycle, Solid Power, Tekion, Turntide, Xometry and many more. BMW i Ventures invests in all stages from seed to growth with a focus on Series A/B.
About HELLA Ventures
Founded in 2015, HELLA Ventures is multi-stage venture capital fund focused on mobility, deep tech, and industrial manufacturing investments. In addition to our own automotive expertise, we leverage our connection with Tier 1 global auto supplier HELLA as an industrialization and/or channel partner into the automotive industry to maximize our portfolio companies’ success. For more information, please visit www.hellaventures.com
About TDK Ventures
TDK Ventures Inc. invests in startups to bolster innovation in materials science, energy/power and related areas typically underrepresented in venture capital portfolios. Established in 2019 as a wholly-owned subsidiary of TDK Corporation, the corporate venture company’s vision is to propel the digital and energy transformations of segments such as health and wellness, next-generation transportation, robotics and industrial, mixed reality and the wider IoT/IIoT markets. TDK Ventures will co-invest and support promising portfolio companies by providing technical expertise and access to global markets where TDK operates. Interested startups or investment partners may contact TDK Ventures: www.tdk-ventures.com or contact@tdk-ventures.com.
