SP3H, an Aix-en-Provence, France-based developer of miniaturized optical sensors for fluid analysis (including on-board fluids, such as fuel), raised €2.5m in new funding.
Backers included longstanding institutional investor Truffle Capital. In addition to the funding, industry veterans Peter Ward (69), Michel Eschalier (68), and Jérôme Gallot (55), joined SP3H’s board.
The company intends to use the funds to
(i) finance the initial tests of a vehicle-embedded industrial sensor,
(ii) initiate the marketing of the first systems for garages and car dealers and
(iii) structure strategic industrial alliances (particularly in refining, petrochemicals and aeronautics sectors).
Led by CEO Dr Alain Lunati, CTO Eric Hermitte and CFO Géraldine Frankidjian, SP3H has developed miniaturized optical sensors for fluid analysis (including on-board fluids, such as fuel), which may have particular value in view of the coming EURO VI and EURO VI.2 standards and reduce internal combustion engines’ CO2 emissions and fuel consumption while improving reliability.
22/05/2012: SP3H Raises €2.2M in Funding