The Venture Codex

Participated · Seed · Jun 2026

X-nano has developed a patented, non-catalytic pyrolysis reactor process that converts gaseous hydrocarbons of various origins into high-purity synthetic graphite for lithium batteries and hard carbon for sodium batteries. The startup was founded by Fabio Di Fonzo from the Istituto Italiano di Tecnologia and operates three sites, including a main plant in Casarile and two locations in Milan. X-nano employs 17 people and is led by a team of four executives. The company plans to use the €3.7 million seed proceeds to build a pilot production plant sited between Lombardy, Abruzzo and Puglia. Management targets completion of the pilot by the end of 2027 with commercial activity beginning between late 2027 and the first half of 2028. The articles do not disclose revenue, users, or a prior valuation.