LEIPZIG, Germany, March 15, 2023 /PRNewswire/ — Intelligent fluids, an award-winning German DeepTech scaleup, has announced a €10mn Series B financing round. The round was led by WAVE Equity Partners, a US-based sustainability fund, with participation from existing institutional investors, High-Tech Gründerfonds (HTGF) and IBG Sachsen-Anhalt.
On the fundraise, Christian Römlein, CEO of intelligent fluids, said, “The funding by WAVE Equity Partners demonstrates the value of the innovation we have developed, and enables us to provide direct support to our global customer base through local production facilities. WAVE has a tremendous track record in backing sustainable technology innovation, and we are glad to have their support in this journey.”
Intelligent fluids (IFC) is revolutionizing industrial and commercial cleaning. Conventional cleaning agents are aggressive, hazardous to health and harmful for the environment. IFC has developed patented technology which is water-based, non-toxic and biodegradable.
These “intelligent fluids®” also deliver superior performance to solvent based cleaners, with significant reductions in carbon emissions, material consumption and energy costs. The technology has wide ranging applications, from oil and gas to LED displays, and adhesive removal to microelectronics. IFC has won several accolades, with the Global Green Product Award 2021 and the European Business Hero Award for Sustainability 2022, key among them.
Christian further said, “We have proven that sustainability and superior performance can co-exist. We aim to set up new benchmarks in this industry, and usher in the post-solvent era of cleaning.”
IFC will use the funds to grow the team, increase manufacturing capacity at its German plant, and initiate expansion into global markets through establishment of manufacturing entities in USA, India, MENA and Taiwan.
Praveen Sahay, Founder and Managing Director of WAVE Equity Partners, said, “The companies we invest in have exceptional green innovations for global markets, thereby enabling a healthier planet. We are thrilled to have added a pearl of German engineering to our portfolio with intelligent fluids, and with our massive support we forecast impressive development for the company over the next few years. The ambition to make a real impact with a combination of performance and sustainability will benefit not only the environment but also many companies and their ESG balance sheets.”
Advisory board Chairman and founding member of investment group ARMATO, Armin Eiche, said that the investment marked a valuable milestone in intelligent fluids’ journey.
SOURCE Intelligent Fluids