Naco Technologies, a Riga-based company specializing in advanced nano-coating solutions for green energy systems, has raised €2.5 million in an expanded pre-Series A funding round. Radix Ventures led the additional investment, with continued backing from Impact Ventures and Kendris Capital. This follows their earlier €1.2 million pre-Series A investment. Naco’s nano-coatings aim to enhance the efficiency and cost-effectiveness of green energy technologies, such as electrolyzers and fuel cells. The funding will support the company’s plans to build a high-capacity manufacturing facility in Poland, expand its international presence, and invest in further research and development to refine its products. This expansion aligns with Naco’s goal to meet increasing global demand for sustainable energy solutions.
Naco Technologies, a leader in green energy innovation, aims to improve the efficiency and cost-effectiveness of green energy systems through cutting-edge nano-coating technologies. The company’s recent funding round highlights the strong backing of leading investors, including Radix Ventures, which is known for supporting sustainable technology ventures. This infusion of capital will help Naco reach key milestones, including the development of a high-capacity manufacturing facility in Poland to scale production and meet the growing demand for nano-coated components.
Paweł Bochniarz, General Partner at Radix Ventures: “Naco Technologies exemplifies the high-impact, growth-oriented companies that Radix is committed to supporting. We are highly impressed by the expertise and vision of the Naco team, and we firmly believe that their innovative nano-coatings can play a pivotal role in the sustainable growth of the emerging hydrogen economy. We are proud to support them on this exciting journey.”
The funding will also support Naco’s international market expansion, fostering partnerships with global electrolyzer and fuel cell manufacturers. Additionally, the investment will fuel further research and development to enhance the performance and durability of Naco’s nano-coatings, while strengthening the company’s team and infrastructure to keep pace with the rapidly expanding green energy sector.
Aleksandrs Parfinovics, CEO and Co-founder of Naco Technologies: “Radix Ventures’ investment strengthens our mission to provide advanced materials for the green energy economy. With our extended funding, we’re moving forward to build a production facility in Poland and meet the demands of a global market. Our team is energized by the support from Impact Ventures, The Untitled Ventures, and Radix Ventures as we continue to scale and innovate.”
Read the orginal article: https://arcticstartup.com/naco-technologies-raises-e2-5m-pre-series-a/
