PlasmaBound, a Dublin, Ireland-based Controlled Polymer Ablation (CPA) technology company, raised €2.35M in funding.
The round was led by Act Venture Capital, with participation from Atlantic Bridge University Fund, and Enterprise Ireland.
The company intends to use the funds to expand operations and its development efforts.
Co-founded in 2017 by Dr James Nicholas Barry, Alan Barry and Xavier Montibert, PlasmaBound is advancing CPA technology, which enables high speed bonding of ultra-lightweight fibre-reinforced materials in a manner where it will effectively take on a role similar to welding in metals. This will reduce operational cycle times, and manufacturing waste streams and extend shelf-life. The technology is deployed in a SaaS model, with term-based licensing.
The funding will enable acceleration on the path toward enabling sustainable lightweight materials being a standard feature on vehicles, devices and structures, globally, without the complexity, cost and waste involved today.
The company is a University College Dublin (UCD) spin-out.
FinSMEs
03/05/2022