HELSINKI, Finland – Carbodeon Ltd. Oy, a provider of application-tailored nanodiamond materials, has closed a €1.5 million funding round from Straightforward Capital, a Finnish venture capital firm. The round follows major financing already received from biotech and advanced materials sector investor Enso Ventures.
Carbodeon’s patented technologies offer superior performance when used as additives in applications including thermal management materials, metal plating and selected polymer coating applications.
The funding will be used to expand nanodiamond manufacturing capacity, recruit new talent and enhance customer support. Further investments in research and development will allow Carbodeon to continue to innovate and develop new products and applications.
“With these investments, we can expand our manufacturing technology and extend our global presence,” said Vesa Myllymäki, CEO of Carbodeon. “This funding, combined with our innovative partnerships with customers and partners, will enable us to grow significantly within our key application areas.”
“The decisive factors in our decision to invest into Carbodeon were their understanding of the market needs and their capacity to build client solutions which are cost–efficient and scalable. They bring tremendous competitive advantages to their clients, which is a recipe for success for any company,” said Seppo Savolainen, co-founder of Straightforward Capital and Chairman of the board of directors of Carbodeon.