Cnano Technology, a spin-out of Tsinghua University, has raised $15m in its series C round.
The round was led by GRC SinoGreen Fund, and was joined by Hotung Investment Holdings and other unnamed new investors. Previous investors Pangaea Ventures, Presidio Partners, WI Harper Group, IDG Capital Partners and Megatop Capitals also participated.
The company has raised at least $22m over a $6m series A in 2007 and an undisclosed amount in a series B round led by IDG Capital.
Cnano’s multi-wall carbon nanotubes (MWCNT) can be used in energy storage, engineering, and electronics industries.
Tao Zheng, CEO of Cnano, said: “Cnano’s advanced technologies and superior quality of products have powered Cnano into the leading manufacturing and supplier of MWCNT for the lithium-ion battery market. Series C funding will accelerate Cnano’s growth to increase its MWCNT capacity to meet the increasing demands for Cnano’s products for the electric vehicle and high end consumer battery markets as well as other MWCNT applications.”