IonKraft GmbH, a startup spun off from RWTH Aachen University in Germany, has closed a €3.5 million first equity funding round.
The round was co-led by M Ventures, the strategic investment arm of Merck, and TechVision Fund (TVF), with participation from High-Tech Gründerfonds (HTGF). The funding will be used to scale up the production and sales of IonKraft’s coating machines, designed to advance a circular economy in the packaging industry.
“This financing round is a decisive step to support the market launch of our technology and to prepare for future scaling. We are thrilled to have a diverse group of investors who share our vision and will provide us with support on multiple levels,” said Benedikt Heuer, Co-Founder of IonKraft.
Founded in 2021 by Dr. Montgomery Jaritz and Benedikt Heuer, IonKraft specialises in plasma-based barrier coatings, replacing non-recyclable solutions in packaging. The startup’s technology offers a chemically resistant and fully recyclable alternative, matching the barrier properties of glass, making it suitable for sensitive products like food and cosmetics. Machine technology has also been developed to apply their coatings to various types of containers. According to IonKraft, this could potentially replace non-recyclable multilayer or fluorinated (PFAS) packaging that cannot be recycled.
“IonKraft delivers a market-ready coating technology that can easily be integrated into existing production lines. The company holds a huge lever to enable circularity, starting in a sector outside the mainstream focus”, says Björn Lang, Partner at TVF Management.
IonKraft’s aims for a market launch of its first products by 2025, after deploying the first industrial coating system by year-end 2024. The company was previously supported by the European EIC Accelerator and the BMWK’s EXIST research programme.
Nils Lang, Investment Manager at HTGF, noted: “We are excited to support IonKraft in their market roll-out and expansion. Their solution addresses a strong market demand and aligns with the current momentum of change. With an excellent team and an outstanding track record, we are confident they are well-prepared for any challenges that may lie ahead.”
Read the orginal article: https://www.eu-startups.com/2024/11/aachen-based-ionkraft-secures-e3-5-million-to-drive-circular-economy-in-packaging/
