Eldico Scientific wins CHF 150’000 in Venture Kick final31.07.2020
Villigen-based ELDICO Scientific is planning to launch the first pilot demonstrations with customers later this year. To accelerate product development, the company has obtained CHF 150,000 after winning the venture Kick finals.
Eldico Scientific specialises in electron diffractometers designed to analyse solid chemical compounds. The technology enables industrial and scientific researchers to characterise previously unmeasurable nano-crystalline systems. The application of electron diffraction for nano-crystalline substances will open new commercial perspectives to the pharmaceutical, agrochemical, chemical, and advanced materials industries. Eldico’s patented instruments produce data in hours—compared to the days needed by current microscopes—and examine samples that would otherwise be unmeasurable using existing X-ray diffraction techniques.
In 2018, Eldico Scientific achieved the proof of concept (ETH Zurich, C-CINA Basel) on scientifically and industrially relevant samples. Recently published results (Angewandte Chemie, International Edition) gained significant attention and were nominated for “Breakthrough of the Year 2018” by SCIENCE. Co-founders Gustavo Santiso-Quinones (CSO), Gunther Steinfeld (CTO), Eric Hovestreydt (CEO) and Nils Gebhardt (CFO) are looking at a USD 10 billion market. The team has evaluated potential technology and manufacturing partners in Europe in preparation to build their pilot for customer demonstrations and tests later this year.
To this end, the company is actively developing its product with the support of suppliers and development partners from five countries including Swedish Excillum, German companies Axilon and SmarAct, and from Switzerland, Dectris, the world's leading manufacturer of 2D detectors is supporting the startup. This year, the team plans to kick off the first pilot for customer demonstrations.
Following the closing of its seed round, Eldico has obtained CHF 150’000 after winning the Venture Kick challenge. The funds will be used to accelerate ELDICO’s product development and intensify marketing and sales activities, as affirmed by Gebhardt.
“Our technology is not trivial to explain to non-scientists, which is a necessary thing to attract investors. The Venture Kick experience, with its manifold feedback, helped us to focus on our mission and shape our messaging. That was very motivating,” says Hovestreydt.