Radix Ventures, a Warsaw-based deep tech fund, has invested €1.5 million in Latvian nano-coating company Naco Technologies as part of a larger pre-Series A round co-led with Impact Ventures and The Untitled Ventures.
🏭 Industry: Nanotechnology and Green Energy
📣 Solution: High-performance nano-coatings for hydrogen systems and green energy technologies
👯 Founder(s): Aleksandrs Parfinovics, Eduard Parfinovich, Valery Mitin
📅 Founding year: 2009
📍 Headquarters: Riga, Latvia
💰 Investment amount (current round): €1.5 million
🌱 Stage: Pre-Series A
🚀 Funded by: Radix Ventures, Impact Ventures, The Untitled Ventures
🗨️ Investor’s perspective: “We believe that Naco Technologies, positioned at the intersection of nanotechnology and clean energy, can become a leading supplier of coating solutions that can make the global transition to renewable energy is more efficient and profitable. We are proud to join them on their journey,” said Paweł Bochniarz, General Partner at Radix Ventures.
💡 It will be spent on:
- Preparing for large-scale production with a new manufacturing facility in Poland.
- Advancing R&D to enhance and expand nano-coating solutions for green energy systems.
💬 In their own words: “Radix Ventures’ investment strengthens our mission to provide advanced materials for the green energy sector. With this funding, we’re moving forward to build a production facility in Poland and meet global market demands. Our team is energized by the support from Impact Ventures, The Untitled Ventures, and Radix Ventures as we continue to scale and innovate,” commented Aleksandrs Parfinovičs, CEO and Co-founder of Naco Technologies.
💪 Their specialty: Proprietary magnetron sputtering technology that applies ultra-thin coatings to improve energy efficiency and reduce the use of rare materials.
🔑 Business model: Providing scalable and versatile nano-coating solutions tailored for the green hydrogen and energy sector.
👥 Customer profile: Companies and industries focused on hydrogen production and green energy technologies requiring durable, cost-effective components.
