C3Nano, a spinout of Stanford University that produces conductive inks and films, closed a $15m series D round on Wednesday co-led by venture capital firm GSR Ventures.
The round was co-led by conglomerate Nissha Printing and diversified holding group Xinjiang Guoli Minsheng Equity Investment. It further included Phoenix Venture Partners and a range of undisclosed investors, including a technology company based in Silicon Valley.
Founded in 2010, C3Nano is based on research conducted by Zhenan Bao at Stanford University’s chemical engineering laboratory. C3Nano has developed solution-based, transparent, conductive inks and films that enable flexible and bendable touch sensors.
The spinout will use the series D capital to boost its presence in Asia by building manufacturing facilities in China and boosting its sales activities in South Korea. The money will also support technology development undertaken in the US.
C3Nano has now raised $37m in total funding.
Industrial products maker Nagase America and conglomerate Hitachi Chemical (whose identity was not disclosed at the time) co-led a $12m series C round in 2014, with participation from GSR, Phoenix Venture Partners and Hongguo International.
GSR earlier supplied $3.2m in series A funding in 2011 before returning to back a $6.7m series B round the following year, led by Phoenix Venture Partners.
Cliff Morris, chief executive of C3Nano, said: “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.”