Eurekite closed an investment round of €4.2 million, enabling us to scale-up the production capacity of our breakthrough Flexiramics® materials.
We are delighted to announce that we have reached this crucial milestone. This funding will improve our ability to deliver Flexiramics technology to our customers who can integrate it in their everyday devices and processes, bringing many benefits to society.
The new follow-on investment round of € 4.2 million comprises a substantial loan from RVO (Netherlands Enterprise Agency), the equipment lease facility from the Twente-based High Tech Fund, and an equity investment provided by a group of regional investors, including Lumana Invest, Oost NL through Innovation Fund Twente and Demcon. Between 2015 and 2020, Cottonwood Technology Fund provided seed and follow-up investments amounting to a total of € 2.75 million.