Strong by Form, a leading bio-composite technology company, announced the successful completion of its seed funding round, raising €4.8 million. The round was oversubscribed by more than 25% and was led by CMPC Ventures, the corporate venture capital arm of CMPC, one of the world’s largest pulp and paper producers.
Alongside CMPC Ventures, the seed round includes investment from Climate Insiders, CiRi Ventures, MAIF Avenir, Teampact Ventures, Core Angels, Savia Ventures, Family Offices, and corporate venture capitals Symbia VC, FINSA, and VX Ventures.
Strong by Form’s groundbreaking Woodflow™ technology represents the future of sustainable construction materials, offering a viable and eco-friendly alternative to conventional structural materials like concrete and steel. With its impressive weight-to-strength ratio, freeform capabilities, and mass manufacturing approach, Woodflow has the potential to revolutionize various industries, including construction and automotive.
Strong by Form’s Founder, Andrés Mintik, commented: “Our ability to blend nature and technology has demonstrated that we can utilize wood in a smarter, more efficient, and highly sustainable manner. Our Woodflow technology has been designed to deploy on a massive scale across multiple industries, allowing timber to play a pivotal role in solving the climate crisis. We are proud that seasoned investors and corporates from the timber sector share our vision of highly efficient, future-proof sustainable structural material technologies.”
The company is currently focused on construction and is already developing a project with Deutsche Bahn while it explores other markets thanks to a close relationship with the BMW Group. Born in Chile in 2018, Strong by Form has a broad international footprint with headquarters in Spain, offices in Stuttgart, Germany and a pilot robotic manufacturing facility in Santiago, Chile.
Strong by Form will use the investment to double in size and build an industrial manufacturing facility. New hires will focus on strengthening its R&D and product development capabilities while a full manufacturing team will also be brought on board. The first product to be launched is interior cladding solutions available in Q1, 2024. A launch event is programmed in Madrid at the new WOW by FINSA space.
Bernardita Araya, CMPC Ventures Manager, added: “CMPC is very excited to partner with Strong by Form, and has an enthusiastic dedicated team of technical, strategic, and commercial experts to help the acceleration to industrial scale, making the most of the many synergies towards the development of these more sustainable construction solutions.”
Read the orginal article: https://www.eu-startups.com/2023/12/madrid-based-strong-by-form-secures-e4-8-million-to-bring-a-sustainable-alternative-to-concrete/
