BMW i Ventures Leads Series B Financing Round of Nanocoating Technology Company, actnano

December 2, 2021 by BMW

BMW i Ventures today announced a lead investment in the Series B financing round of actnano, a company that has developed a next-generation nanocoating that offers unparalleled protection for electronics across the automotive and consumer electronics markets.

actnano's nanoGUARD technology is a thin nano structure that is sprayed directly on the intended electronic component, acting as an insulation barrier to protect the underlying component against various environmental contaminants such as water, condensation, humidity, and salt. Unlike traditional coatings, it can be applied to connectors and antennas, as well as underneath large components and processors, eliminating the need for masking. Actnano's technology also offers significant cost advantages over existing alternatives and is easy to apply in manufacturing processes, drying within 30 seconds upon application. actnano's nanocoatings are trusted by global automotive and consumer electronics OEMs and Tier-1 suppliers and are currently deployed in over 2 million production vehicles, including 80% of EVs in North America, as well as many of the world's leading consumer devices.

'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.'

nanoGUARD is produced with sustainable materials and doesn't contain any harmful fluorine or halogen compounds, which are typically found in automotive coatings.

'Our goal is to install nanoGUARD in every vehicle in the world, help eliminate tragic accidents, and save lives,' said Taymur Ahmad, CEO of actnano. 'BMW i Ventures' commitment to sustainability and user safety makes us extremely excited to partner with them and grow within the mobility sector.'

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.