BeFC, a Grenoble, France-based company advancing ecological biofuel cells, raised €16M in Series A funding.
The round involved Otium Capital as the new lead investor, followed by a continued commitment from investors who included Demeter, BNP Paribas Développement and Supernova Invest.
The company intends to use the funds to boost customer engagement and target new market segments within their scope of performance and long-term interest. With an established team of 45, and the objective of deploying the technology internationally to North America and Asia, BeFC will further enhance the team with experienced industry innovators.
Led by CEO Dr. Jules Hammond, BeFC is advancing sustainable paper-based biofuel cell and ecofriendly microelectronics. From industrial logistics to the health of the population, BeFC products and services facilitate the implementation of a digital interface using an active sensing platform with the aim of securing supply chains, optimising workload, and improving safety.
Ecological biofuel cells are paper-based, ultra-thin, and flexible. Inspired by implantable technologies, their core technology revolves around the use of biocatalysts to convert natural biofuels (glucose and oxygen) into electricity. The biofuel cells can even be activated with environmental or biological fluids including sweat, blood, and urine. In addition to a sustainable paper energy source, BeFC develops an ecofriendly active electronic sensor tag capable of collecting a range of sensor measurements (temperature, humidity, accelerometer, etc.) and transmitting the data wirelessly using several different protocols (NFC, BLE, Sigfox, etc.).
Since its incorporation in May 2020, BeFC has signed more than 10 Joint Development Agreement (JDAs) with various market segment leaders, including Fortune 500, FTSE 100, and Nasdaq-listed companies.
FinSMEs
08/06/2023