PlasmaBound, a Dublin, Eire-based automation equipment manufacturing firm, raised €3.1M in funding throughout 2022.
The funding got here from Enterprise Enterprise Companions (€750k in December 2022), Act Enterprise Capital, Atlantic Bridge and Enterprise Eire.
The corporate intends to make use of the funds to speed up progress, develop operations and its enterprise attain.
Co-founded in 2017 by Dr James Nicholas Barry, Alan Barry and Xavier Montibert, PlasmaBound has developed Managed Polymer Ablation (CPA), a bonding expertise for light-weight composite supplies which permits excessive velocity and low-cost bonding of ultra-lightweight supplies. The corporate’s imaginative and prescient is to make light-weight supplies inexpensive for low to mid-range automobiles, transferring the drive towards decrease CO2 emissions and longer EV ranges into mass-market functions. This may speed up viability of the EV proposition and have a step-change impression on sustainable manufacturing.
A College Faculty Dublin (UCD) spin-out firm headquartered at NovaUCD, PlasmaBound was not too long ago chosen as one in every of 5 start-ups to win entry to the Hyundai Motor Firm and KIA Company sponsored 2022 Speed up the Future Problem.