Money for self-repairing Material06.04.2021
CompPair Technologies Ltd. announces the closing of a seed round of 950K CHF. The round was led by the StartAngels Network and Christian Fischer, CEO and co-founder of Bcomp.
The EPFL spin-off invented a new composite material able to repair itself: damage from manufacturing, impact, or fatigue can easily be repaired in only 1 minute by applying heat. CompPair helps its clients build better products that last longer and produce less waste. Their technology acts during the whole lifetime of products, helping manufacturers, consumers and the planet. CompPair’s first product family, HealTech, has witnessed a large interest within the sports and marine sectors.
Launched in 2020, CompPair has been very active in the European Startup Ecosystem. Indeed, among other successes, the company was selected by Space4Impact as the Startup of the year 2020, and the pre-impregnated textiles received the Solar Impulse Foundation Label in 2020. They were also finalists of the Hello Tomorrow Global challenge in the aeronautics track, the JEC Startup booster 2020-2021 and the Swiss Technology Award at the Switzerland Innovation Forum. In terms of rankings, they were established as one of the top 40 best high- tech startups in Europe and the world’s top 5 self-healing materials startups.
The seed investment round of 950k CHF will allow the company to continue implementing the HealTech family within the composites market by extending the production capacity and building pilots to penetrate new industries. Following this development, the team will be strengthened by new talents in Business Development, Engineering and Operations, reaching new markets and progressing in the finalisation of the second product family.
The round was led by the StartAngels Network and Christian Fischer, CEO and co-founder of Bcomp, a sustainability pioneer in the composites industry, along with precious contributions from private investors. Investor and board member, Thomas Rauber, member of the StartAngels Network and CEO of TR Invest SA, said: «I am delighted to contribute with my knowledge in financial governance and entrepreneurial experience to the future success of CompPair. CompPair’s technology and innovation answers to a real market need, and I have strong confidence in my investment in the company».