Leipzig-based Intelligent fluids (IFC), a deeptech scale-up that designs high-performance cleaning fluids, announced on Wednesday that it has raised €10M in a Series B round of funding.
The round was led by the US-based WAVE Equity Partners, a sustainability fund. Existing institutional investors High-Tech Gründerfonds (HTGF) and IBG Sachsen-Anhalt also participated in this round.
Praveen Sahay, Founder and MD of WAVE Equity Partners, says, “We are thrilled to have added a pearl of German engineering to our portfolio with intelligent fluids, and with our massive support we forecast impressive development for the company over the next few years.”
“The ambition to make a real impact with a combination of performance and sustainability will benefit not only the environment but also many companies and their ESG balance sheets.”
What does Intelligent fluids offer?
Founded in 2017, Intelligent fluids claims to be revolutionising industrial and commercial cleaning.
Conventional cleaning products are harsh, unhealthy, and bad for the environment. IFC has created a proprietary technology which is water-based, non-toxic, and biodegradable.
“We have developed proprietary technology to physically dislodge and separate contaminants from surfaces, without the need of chemical action,” says IFC.
The company claims that these “intelligent fluids” outperforms solvent-based cleaners in terms of reductions in carbon emissions, material usage, and energy expenses. The technology has a broad range of uses, from oil and gas to LED displays, and adhesive removal to microelectronics.
CEO Christian Römlein says, “We have proven that sustainability and superior performance can co-exist. We aim to set up new benchmarks in this industry, and usher in the post-solvent era of cleaning.”
Intelligent fluids is dedicated to make the world a cleaner, healthier place and actively supports 10 of the United Nations Sustainable Development Goals (SDGs). The company has also collaborated with 13 NGOs globally.
Capital utilisation
IFC says it will use the funds to increase its workforce, boost production at its German facility, and start its expansion into international markets by establishing manufacturing facilities in the US, India, the Middle East and North Africa (MENA), and Taiwan.
Römlein says, “The funding by WAVE Equity Partners demonstrates the value of the innovation we have developed and enables us to provide direct support to our global customer base through local production facilities.”
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