Smart glasses, brain therapy, and battery materials - 5 investments of last month
Each month, we list the investments that caught our eye the most.
Published on January 2, 2025
Team IO+ selects and features the most important news stories on innovation and technology, carefully curated by our editors.
1. €10 million for a Dutch company that advances smart glass technology
The Eindhoven-based startup eLstar Dynamics received €10 million in funding to advance its smart glass technology. eLstar’s technology caters to different sectors, from construction to automotive. It allows window tinting to be adjusted in response to changing light conditions, improving visibility and reducing glare. The technology also contributes to energy efficiency by stabilizing interior temperatures and reducing the need for air conditioning. This investment comes at a crucial time, as the energy-efficient window market is poised to expand from $17.21 billion in 2024 to $31.33 billion by 2032.
2. CarbonX secures €4 million to build resilient battery supply chains
In a strategic move to reduce dependence on Chinese graphite supplies, CarbonX has secured an additional €4 million in funding. The Rotterdam startup is producing a new anode material – the anode is a battery’s positively charged electrode – that provides a cost-efficient and more sustainable alternative to graphite, replicating the same performance. This extension, co-led by Energy Transition Fund Rotterdam, Innovation Industries, and Borski Fund, builds upon their existing €10 million growth round. The timing is crucial, as 95% of graphite is currently sourced from China. The company's expansion plans include establishing a new 200 m² single-layer pouch lab and initiating a feasibility study for a 20,000-ton-per-annum production line in both Europe and the US. Initial offtake agreements are anticipated by mid-2025.
3. Alveron Pharma raises €5 million for rapid brain hemorrhage therapy
Alveron Pharma has secured €5 million to advance their groundbreaking OKL-1111 drug, which treats brain bleeding within 10 minutes of a CT scan. This innovative treatment addresses a critical healthcare need, as approximately 41,000 people in the Netherlands suffer strokes annually. The drug's unique selling point is its ability to quickly treat brain hemorrhages, dramatically improving upon current protocols that can take over two hours. What sets OKL-1111 apart is its dual action capability - it's effective against both anticoagulants and platelet inhibitors, including clopidogrel, for which no antidote previously existed.
4. Lignitec gets a subsidy for circular kitchen innovations
In late December, Lignitec received government support through the Knowledge and Innovation Agenda - Circular Economy (KIA-CE) subsidy program. This Delft-based startup collaborates with partners like NOWA Kitchen and SAM Panels to develop biobased and recyclable materials for circular kitchens. The initiative aligns with the Netherlands' ambitious goal of reducing primary raw material demand by 50% by 2030. The project includes practical implementations at Welbions and COA locations, demonstrating a commitment to real-world applications.
5. Converting manure into biogas: BASgas receives Oost NL and Eneco funding
BASgas is revolutionizing the agricultural sector with its innovative approach to biogas production. Through fermentation, manure is turned into biogas, which is then upgraded into green gas with the same composition as natural gas. The company has secured funding from energy giant Eneco and development agency Oost NL to scale up to 50 installations on farms. Their technology makes biogas production viable for smaller farms with as few as 100 dairy cows, addressing a crucial market gap. This initiative is particularly timely as the Netherlands produces less than 20% of its 2030 green gas production targets.
