After raising €4M in the first half of its Series A investment earlier in January 2021, PHYSEE, a Delft-based company that develops coatings, solar, and sensor technology, has concluded its Series A round by raising another €4M in funding.
The round saw participation from new investors Phase2.Earth and Adunare, as well as existing investors Job Dura and EDGE. PHYSEE has now raised a total of €8M in growth capital to fund the European roll-out of its SENSE solution and to accelerate the industrialisation of its light-converting coatings.
A spin-off from the Technical University of Delft, PHYSEE (physics + seeing = PHYSEE) claims to be the first company in the world to succeed in developing facades that provide both energy and data, optimising the energy efficiency of buildings.
In late 2019, PHYSEE had launched its SmartSkin solution, which has now become part of the complete product SENSE. It is a smart & sustainable building platform that uses sensors, solar cells, and machine learning algorithms to make buildings save up to 30 per cent on their total energy consumption.
This is done as SENSE analyses data, such as temperature, light and air quality, and independently controls the building’s climate installations (such as sun blinds, lighting, ventilation and air conditioning) using self-learning algorithms. SENSE is now completely wireless, which simplifies installation and chain integration and is maximising outside environment to improve indoor climate.
The startup has installed commercial projects at the renovated headquarters of the Goede Doelen Loterij, at the Zuid-As business district in Amsterdam, Rabobank office in Eindhoven, and BOLD tower in Amsterdam.
How was PHYSEE born?
The company was founded by two applied physicists, Ferdinand Grapperhaus and Willem Kesteloo, in 2014. During their graduation, the duo found a way to generate electricity with transparent glass. According to the founders, they use creative, physical angles when looking at the buildings to see how they can optimise, using smart and sustainable innovations.
In addition to the SENSE solution, PHYSEE has also developed two transparent coatings for glass. By adding PHYSEE’s proprietary POWER+ coating, which the company says has recently seen great progress, windows will be able to generate power, making buildings energy neutral.
Within this coating domain, PHYSEE is also close to commercialising its agricultural PAR+ coating, which converts UV light into PAR light, allowing crops to grow 7 per cent faster in greenhouses. The coating will significantly contribute to meeting the world’s growing food demand in a sustainable manner.
Use of the funds
The raised capital will help the company to be ready with SENSE to dominate Europe. Something that the existing and new investors are happy to contribute.
Speaking on the development, Ferdinand Grapperhaus jr., PHYSEE’s CEO & co-founder, says, “We look forward to deploying this new capital to accelerate the roll-out of our smart and sustainable building platform and to speed up the commercialisation of our light-converting coatings.”
In September 2019, PHYSEE was named the most innovative company in the Netherlands by the Chamber of Commerce. The Dutch startup also won the 14th edition of the KVK Innovation Top 100 that year.