OCSiAl Group Valuation, Funding & Investors

OCSiAl Group is valued at $2.3B as of October 2021.

Last OCSiAl Group valuation

$2.3B

Undisclosed stage · Oct 2021

Last OCSiAl Group funding round

$109M

Undisclosed stage · Oct 2021

Cumulative funding OCSiAl Group raised

$245M

across 7 funding rounds

Key investors in OCSiAl Group

  • Da Vinci Capital
  • RUSNANO

OCSiAl Group Overview

About OCSiAl Group

OCSiAl Group is a Luxembourg-headquartered manufacturer holding 97 percent of global production capacity for single-wall carbon nanotubes, known as graphene nanotubes. The company supplies these materials for silicon-anode batteries adopted by electric vehicle makers, along with applications in batteries, composites, and coatings across the United States, China, India, Japan, South Korea, and Europe. OCSiAl achieved unicorn status in 2019 and raised capital valuing it at around $2 billion in 2021, with investment from Daikin Industries.


Founded

2009

HQ

LuxembourgLuxembourg

Website

ocsial.com

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$2.3B (Oct 2021)

OCSiAl Group Valuation

OCSiAl Group is currently valued at $2.3B, based on its undisclosed-stage round in October 2021.

The $109M round was led by Da Vinci Capital.

OCSiAl Group's valuation has grown 2.3x from $1B at its undisclosed-stage round in January 2019 to $2.3B in October 2021, across 4 priced rounds.

OCSiAl Group valuation by funding round

OCSiAl Group valuation by funding round
DateStageValuation
Oct 2021Undisclosed stage$2.3B
Oct 2019Undisclosed stage$1B
Jul 2019Secondary$2B
Jan 2019Undisclosed stage$1B

OCSiAl Group Funding History

OCSiAl Group has raised a total of $245M across 7 funding rounds, plus 1 secondary share sale.

OCSiAl Group's first fundraising round was a $10M Series A in January 2013. The most recent completed round was a $109M undisclosed-stage round in October 2021.

OCSiAl Group funding rounds

OCSiAl Group funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2021Undisclosed stageDa Vinci Capital (lead)$109M$2.3BOCSiAl is the world's largest producer of graphene nanotubes, developing carbon nanotube-based solutions for electrochemical power sources, elastomers, paints and coatings, composites, and plastics. The company has achieved a production capacity of 80 tonnes of nanotubes per year, representing 97% of global capacity, with plans to launch the first phase of a plant in Luxembourg with capacity up to 100 tonnes in 2024. In 2021, OCSiAl closed a series of investment rounds totaling over $100 million, organized by investment bank J.P. Morgan as placement agent and private equity fund Da Vinci Capital, bringing together a pool of international institutional and private investors. The 2021 funding rounds increased the company valuation to $2.3 billion. Notable new investors included Japanese industrial giant Daikin Industries, which announced cooperation and investment in July 2021 following three years of collaborative development in graphene nanotube applications for batteries and fluoropolymers. The company operates in Europe, the USA, Russia, Korea, China, Hong Kong, Malaysia, Mexico, Japan and Australia, with around 1,500 companies worldwide developing and marketing TUBALL nanotube technologies and products in its client portfolio.
Oct 2019Undisclosed stage-$46M$1BOCSiAl is the world's largest producer of graphene nanotubes, with production capacity of 80 tonnes per year representing approximately 97% of global capacity. The company develops carbon nanotube-based solutions for electrochemical power sources, elastomers, paints and coatings, composites, and plastics, serving markets across Europe, the USA, Russia, Korea, China, Hong Kong, Malaysia, Mexico, Japan and Australia. When OCSiAl entered the market in 2014, it offered graphene nanotubes at prices 75 times lower than market competitors, making the material accessible to significantly more industries, and reported revenues doubling annually. This valuation was established through funding rounds organized by investment bank J.P. Morgan and private equity firm Da Vinci Capital, bringing together international institutional and private investors. The company's primary shareholders include state-backed Russian fund RUSNANO, Japanese company Daikin Industries (which contributed $4 million to later rounds), and investment firm A&NN Investment, controlled by Russian oligarch Alexander Mamut, which acquired a 0.5% stake for $5 million in 2019. By 2021, investors had valued the company at approximately $2 billion through additional investment rounds totaling over $100 million. The company planned to pursue a Western public listing, targeting a $3 billion valuation and planning to raise $300–800 million through a SPAC merger, with construction of a new 100-tonne production facility in Luxembourg underway.
Jul 2019Secondary-$5M$2BOCSiAl Group is the world's largest producer of graphene nanotubes, developing solutions for electrochemical power sources, elastomers, paints and coatings, composites, and plastics, with a production capacity of 80 tonnes per year representing 97% of global capacity. Headquartered in Luxembourg, the company operates in Europe, the USA, Russia, Korea, China, Hong Kong, Malaysia, Mexico, Japan, and Australia. In 2019, OCSiAl closed a series of investment rounds totaling over $100 million, organized by J.P. Morgan as placement agent and Da Vinci Capital, with investors valuing the company at circa $2 billion. The transaction included international institutional and private investors, and RUSNANO's stake was valued at over $300 million at that time. Later in 2019, A&NN Investment acquired a 0.5% stake for $5 million from RUSNANO. OCSiAl's revenues were doubling annually as of mid-2019.
Jan 2019Undisclosed stage-$47M$1BOCSiAl Group is the world's largest manufacturer of graphene nanotubes, a material used to enhance properties in industries like automotive, electronics, and chemicals. The Luxembourg-based company, with operations including its Americas headquarters in Columbus, Ohio, was the first to produce high-quality graphene nanotubes on an industrial scale starting in 2014, offering them at prices 75 times lower than market rates to broaden accessibility. It serves global car manufacturers, leading electronics firms, and major chemical producers, with over 400 employees and 600 business partners as of 2019. In early 2019, specifically around March 4, OCSiAl conducted an Unattributed - II funding round, achieving a valuation of $1 billion, which earned it unicorn status. This valuation was confirmed later in July 2019 when Russian investment firm A&NN Investments acquired a 0.5% stake for $5 million from Rusnano, solidifying the $1B mark. Sources note revenues doubling annually since market entry. The valuation reflects the company's rapid growth trajectory. OCSiAl's production capacity in 2019 supported improving hundreds of thousands of tonnes of materials annually, positioning it as over 90% of global graphene nanotube supply in later reports. The company planned expansions, including a major synthesis plant in Luxembourg by 2022, and aimed for an IPO by 2025. Leadership, including President Yuriy Koropachinskiy, projected long-term value exceeding $100 billion, citing emerging markets in both high-tech and mass-produced goods. Subsequent developments included further funding, such as $100M in summer rounds at $2.3B valuation and private placements totaling $200M, with participation from investors like Daikin. OCSiAl pursued a SPAC merger for a Western listing targeting $3B valuation and $300M-$800M raise, primarily for factory expansion, while maintaining Russian roots with backing from state-linked entities and oligarchs.
Dec 2017Series A-$13M--
Dec 2016Series A-$12M-OCSiAl Group is the world's largest producer of graphene nanotubes (single-walled carbon nanotubes), based in Luxembourg. The company develops nanotube-based solutions for electrochemical power sources, elastomers, paints and coatings, composites, and plastics. OCSiAl achieved unicorn status in July 2019 with a valuation exceeding $1 billion. By 2021, the company was valued at approximately $2 billion through investment rounds organized by investment bank J.P. Morgan and private equity fund Da Vinci Capital, bringing together international institutional and private investors including Daikin Industries. OCSiAl controls 97% of global graphene nanotube production capacity, with current annual production of 80 tonnes. The company has expanded internationally with operations in Europe, the USA, Russia, Korea, China, Japan, and Australia, and operates over 420 employees worldwide.
Dec 2014Series A-$9M--
Jan 2013Series ARUSNANO$10M-OCSiAl Group, founded in 2010 in Luxembourg, produces single-wall carbon nanotubes, holding 97% of global production capacity at 80 tons per year. RUSNANO invested $60 million in shares and bonds in 2012 and 2015, with $20 million specified in equity in 2014. The company received support from investors including Igor Kim in 2013-2014. Later rounds included $100 million in summer 2021 at $2.3 billion valuation and deals valuing OCSiAl at about $2 billion, enabling early redemption of RUSNANO bonds and maintaining RUSNANO as a shareholder with a stake then valued over $300 million. Total funding across rounds exceeded $176 million from investors like RUSNANO, ExpoCapital, A&NN Investments, and Igor Kim.

Who has invested in OCSiAl Group?

2 investors have backed OCSiAl Group across its funding rounds, including Da Vinci Capital and RUSNANO.

Lead investors include Da Vinci Capital.


OCSiAl Group Investors

Investors in OCSiAl Group by funding rounds participated
InvestorHQRoundsRoleFirst check

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OCSiAl Group Competitors

OCSiAl Group competitors include listed companies like Nippon Electric Glass, Xanadu, Ube and Bodycote, and private ones like Inari and Diamond Foundry.

Public and private companies comparable to OCSiAl Group
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Nippon Electric GlassJapanJapanPublicly listed$2B$429M$2.3B1.1x
XanaduCanadaCanadaPublicly listed$3M($47M)$2.3B281.8x
UbeJapanJapanPublicly listed$3B$393M$2.2B1.3x
InariUnited StatesUnited StatesPrivate$383M-$2.2B-
BodycoteUnited KingdomUnited KingdomPublicly listed$976M$217M$2.2B2.5x
Diamond FoundryUnited StatesSan Francisco, CAPrivate--$1.8B-

OCSiAl Group Public Comps

OCSiAl Group is still privately-owned, but its public comps include Nippon Electric Glass, Xanadu, Ube, Bodycote, Teijin, Minerals Technologies, Evolution Metals & Technologies, Ningbo Ronbay New Energy, Beijing Zhongke Sanhuan and Gaona Aero Material.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Nippon Electric Glass$2B$429M1.1x1.1x5.1x6.8x
Xanadu$3M($47M)629.3x281.8x(44.6x)(24.7x)
Ube$3B$393M1.4x1.3x10.2x-
Bodycote$976M$217M2.5x2.5x11.2x9.4x
Teijin$5.6B($442M)0.6x0.6x(8.1x)10.5x
Minerals Technologies$2.1B$132M1.3x1.3x21.2x7.3x
Evolution Metals & Technologies-($2M)-190.2x(1231.7x)(69.6x)
Ningbo Ronbay New Energy$1.8B$113M1.8x1.2x29.4x15.8x

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Common questions about OCSiAl Group

When was OCSiAl Group founded?OCSiAl Group was founded in 2009.
Where is OCSiAl Group headquartered?OCSiAl Group is headquartered in Luxembourg, Luxembourg.
Is OCSiAl Group publicly listed?No, OCSiAl Group is a private, VC-backed company.
What is OCSiAl Group's valuation?OCSiAl Group was last valued at $2.3B in its undisclosed-stage round in October 2021.
How much funding has OCSiAl Group raised?OCSiAl Group has raised $245M across 7 funding rounds.
What was OCSiAl Group's last funding round?OCSiAl Group's last funding round was a $109M undisclosed-stage round in October 2021, led by Da Vinci Capital.
Who are OCSiAl Group's investors?OCSiAl Group's investors include Da Vinci Capital and RUSNANO.
Which companies are comparable to OCSiAl Group?Companies comparable to OCSiAl Group include Nippon Electric Glass, Xanadu, Ube, Inari, Bodycote and Diamond Foundry.

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