Carbodeon Ltd Oy, a manufacturer of nanodiamond materials, has closed a €1.5 million funding round from Straightforward Capital, a Finnish venture capital firm. The round follows financing that the company has already received from biotech and advanced materials sector investor Enso Ventures.

Carbodeon’s materials can be 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 and improve customer support, the company said. Further investments in R&D will allow Carbodeon to 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.’

This story is reprinted from material from Carbodeon, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.