Italian deep tech startup FLEEP Technologies has raised €800,000 in seed funding to bring its ‘printed electronics’ technology to the market. The round was supported by Pariter Partners, members of Italian Angels for Growth, Club degli Investitori, and the Cogliati family.
“What we bring with us from this fundraising is the awareness that even in Italy there are investors who are attentive to emerging technologies, even if far from commercialisation, who want to invest and take risks together with the founding team by focusing on value co-creation,” said FLEEP co-founder and CEO Giorgio Dell'Erba.
Founded in 2019, the Milan-based startup was born out of the Istituto Italiano di Tecnologia, where a ‘printed and molecular electronics’ research team sought to transform manufacturing in an environmentally friendly way. In 2018 the team participated in ScienceLAB, Pariter Partner’s investment program dedicated to creating companies from Italy’s academic and research communities.
The deep tech startup prints integrated circuits, which are the basic components of electronics, out of recyclable carbon-based materials rather than silicone. In fact, FLEEP’s micro and nano-electronic circuits can be printed on materials like plastic, paper, or fabrics, paving the way for much more flexible (and sustainable) electronic systems and possibly the first fully printed sensors. The new funding will prepare the technology for manufacturing at scale, with hopes of marketing sustainable electronic systems for the packaging and biomedical industry within three years.
Image: FLEEP Technology's printed circuit