Marks Third Corporate Investment by Major Automotive OEM or Tier 1 Supplier
CAMBRIDGE, Mass.–(BUSINESS WIRE)–actnano, Inc., a global leader in surface protection technologies for automotive and consumer electronics, announced a second close in Series B funding with an investment from Porsche Ventures.
actnano’s innovative water and environmental resistant nanocoating technologies are currently protecting electronics on over 2 million production vehicles, including 80% of EVs in North America. Leading automotive OEMs and Tier-1 suppliers trust actnano to provide 3D surface protection for their critical components.
“Our advanced technology, nanoGUARD, enables ADAS and AV systems to operate without failure due to salt, condensation, or humidity,” said Taymur Ahmad, CEO of actnano. “Having strong automotive backing from companies like Porsche Ventures, confirms that actnano is at the forefront of a much-needed evolution from the industry’s traditional, old-school technology.”
Porsche Ventures, part of German sports car manufacturer Porsche AG, invests in innovative technologies and business models.
“actnano’s breakthrough gel-based nanocoating is a key enabling technology for connected and autonomous vehicles and has the potential to become a standard in the automotive industry, said Stephan Baral, Head of Porsche Ventures Region US. “actnano’s proprietary system promises to require less equipment, floor space, energy, and labor, as its coating eliminates the costly step of curing and masking, achieving higher throughput than conventional materials.”
“We’re excited to back the vision of actnano’s founding team,” Baral continued. “We believe that the adoption of their technology within vehicles can reduce material and maintenance costs during the vehicle’s lifecycle, while increasing reliability, connectivity (including 5G readiness) and safety to the driver.”
Additional Series B investors announced previously include BMW i Ventures, HELLA Ventures and TDK Ventures, as well as all Series A investors, including Emerald Technology Ventures, GC Ventures America, Henkel Tech Ventures, Ireon Ventures and Material Impact.
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 Porsche Ventures
Porsche Ventures is the venture capital unit of Porsche AG and has offices in Stuttgart, Berlin, Tel Aviv, Palo Alto and Shanghai. It invests in innovative technology and business models around the world. Porsche has been active on the start-up scene since 2016 and has built a diverse start-up ecosystem in order to work with new, innovative companies in various phases of development: In addition to Porsche Ventures, the Porsche ecosystem includes the technology and digital unit Porsche Digital, the company builder Forward 31 and the early-stage investor APX, a joint venture with Axel Springer SE. More information about this start-up ecosystem can be found in the Porsche Newsroom: https://newsroom.porsche.com/startups.