BASF invests in innovative functional chemical company
According to the company, BASF Venture Capital (BASF) is leading an $8 million Series B financing round in the U.S. functional chemistry firm, NBD Nanotechnologies (NBD Nano).
BASF is joined in the round by new investor Henkel AG & Co., along with existing investors including Phoenix Venture Partners, among others.
BASF Venture Capital GmbH was established in 2001 as a wholly owned subsidiary of BASF New Business GmbH, Ludwigshafen, Germany, with the aim of exploring new growth potentials based on investment in startup companies and funds.
What is NBD Nano?
Headquartered in Boston, Massachusetts, NBD Nano is a specialty chemicals company with a proprietary platform technology that gives surfaces unique properties such as repellency or adhesion.
The company’s product offerings include RepelShellTM plastic additives that allow any plastic resin to become more repellent than the leading fluoropolymer technologies, and InvisiPrintTM coatings that significantly reduce fingerprint visibility on a variety of surfaces
“NBD Nano’s products allow for a tremendous variety of applications in electronics, consumer goods, and automotive,” said Markus Solibieda, Managing Director at BASF Venture Capital. “In addition, the company’s technology platform provides them with a strong base for future innovations.”
Miguel Galvez, CEO of NBD Nano, says the financing will allow the company to grow further, while continuing to innovate within its proprietary platform.
“We will be able to achieve the scale our customers expect from us and offer our novel solutions, which we have developed independently or in collaboration with leading industry partners, to a wider array of markets.”