Radix Venture invests in Latvian advanced nano-coating solutions leader Naco Technologies

The Polish deep tech investment fund Radix Ventures has invested EUR 1.5 million in Naco Technologies, a Latvian leader in advanced nano-coating solutions for green energy systems.

This funding is part of a larger pre-Series A round totaling EUR 2.5 million co-led by Radix Ventures, alongside previous investors Impact Ventures and The Untitled Ventures. The investment will accelerate Naco’s international growth and support the establishment of a high-capacity production facility in Poland.

Naco’s proprietary magnetron sputtering technology applies ultra-thin coatings at high speeds, improving energy efficiency and component durability. By reducing the use of rare and expensive materials like platinum and iridium by up to 90%, Naco’s coatings make hydrogen production and other green energy technologies more cost-effective and scalable.

COBALT’s Private Equity, Intellectual Property, Employment Law, and Real Estate teams provided full legal support to Radix Ventures during the investment transaction. The expert team was led by Partner Indriķis Liepa and Senior Associate Elīna Ločmele, and included Senior Associates Agnese Gerharde, Ivo Maskalāns and Gabriela Šantare, and Associates Krista Helmūte and Vadims Zvicevičs.

Radix Ventures announcement.