FAIRMAT announces €34M Series A round to make it easier and more sustainable to recycle advanced materials through robotic technologies
Summary
The companys plans for the funds include accelerating the deployment of its robotized industrial capabilities to recycle carbon-fiber composites, expanding internationally, and entering new verticals with its sustainability solutions.PARIS, Nov. 21, 2022 /PRNewswire/ -- , the Paris-based sustainable deep tech start-up pioneering the recycling of advanced materials, announced today that it has completed its Series A funding round at a total of 34M, one of the largest Series A rounds for a deep tech startup in both France and Europe as a whole this year.This oversubscribed financing operation was co-led by Singapore investment company, and the Belgian group Compagnie Nationale \xe0 Portefeuille ( /Groupe Fr\xe8re), and with participation from a group of investors including original seed funding VC , Swiss-based wealth and asset managers, , and , the London-based investment arm of an American consortium of automotive, hospitality, entertainment, sports and adventure companies. At the heart of its model, all the earnings generated will be redistributed for the benefit of projects working for the common good, addressing three issues: environmental protection, entrepreneurship for vulnerable groups and job creation. CNP invests its permanent capital for control or joint-control of European industry leaders and acts as an active partner to drive sustainable value creation alongside the founders, management and families it associates with. With 30 offices, it is also present in: Amsterdam, Barcelona, Basel, Brussels, Dubai, Frankfurt, Geneva, Hong Kong, Lausanne, London, Luxembourg, Madrid, Milan, Monaco, Montreal, Munich, Nassau, New York, Osaka, Paris, Rome, Singapore, Shanghai, Stuttgart, Taipei, Tel Aviv, Tokyo, Turin, Verona and Zurich.RAISE Sherpas is the 1st philanthropic acceleration program dedicated to startups from Seed to Series B. These organizations include: Gulf States Toyota, GSFSGroup, US AutoLogistics, Ascent Automotive Group, Auberge Resorts Collection, AS Roma, Imperative Entertainment, 30WEST, NEON, Diamond Creek Golf Club, Congaree and Legendary Expeditions.