Funding Round attributes
Naco Technologies, a Riga-based company specializing in nano-coating solutions, has announced the successful closure of a €2.5 million pre-Series A funding round. The investment was led by Radix Ventures, a deep tech fund based in Warsaw, Poland, contributing €1.5 million. Additional participation came from Impact Ventures and The Untitled Ventures.
Founded in 2009, Naco Technologies develops and manufactures advanced nano-coating solutions designed for use in the tooling, automotive, aerospace, and microchip industries. Its product portfolio includes oil-enhanced, wear-protective, thermal-barrier, and liquid-repellent coatings, offering specialized solutions to improve the performance and durability of industrial equipment.
The company is also focused on creating innovative materials and nano-coatings to address challenges in hydrogen production and utilization. By eliminating the need for platinum and other expensive materials, Naco Technologies aims to enhance the efficiency of hydrogen systems while significantly reducing associated costs. This aligns with global efforts to transition to renewable energy sources and develop cost-effective solutions for green energy systems.
Paweł Bochniarz, General Partner at Radix Ventures, commented on the investment, stating, “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 more efficient and profitable. We are proud to join them on their journey.”
Radix Ventures, established in 2024, focuses on supporting early-growth startups in Central and Eastern Europe that are driving transformative technological and societal change. The fund prioritizes investments in companies advancing environmental sustainability and allocates ticket sizes ranging from €1 million to €3 million.
Impact Ventures contributed to the funding round as well. The firm specializes in supporting companies that combine strong financial performance with measurable positive societal and environmental impacts, fostering sustainable innovation across industries. The Untitled Ventures, another participant in the round, invests in innovative startups in emerging markets, emphasizing the use of cutting-edge technology to disrupt traditional industries and foster growth.
Naco Technologies plans to use the funds to prepare for large-scale production with the establishment of a new manufacturing facility in Poland. The company also aims to advance its research and development efforts, focusing on enhancing and expanding its nano-coating solutions for green energy systems. These initiatives are expected to strengthen Naco Technologies’ position as a key player in the intersection of nanotechnology and clean energy.
The investment underscores the growing importance of technologies that contribute to environmental sustainability and address critical challenges in renewable energy production. With its expertise in nano-coatings and innovative material development, Naco Technologies is well-positioned to make a significant impact in the global transition to green energy.
The funding round reflects the confidence of its investors in the company’s vision and potential to drive advancements in the field of nanotechnology and energy systems. By scaling its production capabilities and continuing to innovate, Naco Technologies aims to play a pivotal role in improving the efficiency and affordability of hydrogen systems and other green energy solutions.
