UpNano has raised 7 million EUR in a Series A round co-led by aws Gründungsfonds, Novacapital and IGO Innovation GmbH.
The funds will be used by UpNano to accelerate the development of its next generation 2-photon polymerization (2PP) 3D printing technology.
UpNano is set to 'prepare the market entry' of its 2PP 3D printers with this cash injection, while also accelerating the international market penetration of its existing NanoOne series of printers. 2PP 3D printing has been designed to deliver greater precision to enable the creation of intricate micro- and nanoscale structures with 'exceptional detail.' Its ability to produce complex geometries in a wide range of materials, UpNano believes, will open the door to advances in fields such as biomedicine, electronics, and photonics. As the technology evolves, UpNano suggest 2PP has the potential facilitate new applications in medical technology, tissue engineering, drug delivery and high performance electronic and optical devices.
“With our investment in UpNano, we are pleased to be part of one of Austria’s most innovative companies, which has already achieved considerable market success in the early stages of its existence. UpNano makes a fantastic contribution to the rapid development of high technology from university research to market maturity and global distribution,” said Markus Jandrinitsch, Managing Director at aws Gründungsfonds.
Carlo Germano Ravina, Managing Director of NovaCapital, added: “Our portfolio consists of well over 30 technology companies that we support with money and expertise. We are entrepreneurs and managers with extensive experience and connections in technology-driven industries. With this mindset, we believe that UpNano can be the turning point of the 2PP 3D printing sector, being able to finally bridge the gap towards industrial, series production.”
“We are delighted that our existing technology, IP position and marketing strategy have been externally evaluated by experienced investors,” offered Bernhard Küenburg, CEO of UpNano, “and that they agree on the great potential of our company. The new investment of EUR 7 million as well as the extensive experience of our investors in supporting young and successful companies on their growth path are great assets for UpNano”.
UpNano will exhibit at Formnext from 19 to 22 November 2024 in Frankfurt, Germany.