Carbon composite recycling company Fairmat has raised €51.5 million Series B funding, combining €26.5 million in equity and €25 million in venture debt granted by the European Investment Bank (EIB).
This marks Fairmat's third fundraising round, following an €8.6 million Seed round in September 2021 and a €34 million Series A in November 2022.
Bpifrance’s Large Venture fund and Slate VC led the funding, with participation from Cape Capital and historical investors Singular, Temasek, CNP, and Pictet Group.
Founded in 2020 by Benjamin Saada, Fairmat addresses a critical global challenge: the explosion of waste and the growing scarcity of high-performance materials.
Using a deeptech approach, Fairmat not only recycles materials but closes the loop entirely, disrupting conventional manufacturing processes.
Its FairFactories, based in France and the US, are intelligent, agile, and automated plants that integrate sensors, predictive algorithms alongside robotics, software, AI, and machine learning to improve production, reduce waste, and accelerate industrial adoption and ensure ultra-efficient, scalable production.
It has developed a patented cold patented tech called Infinity Recycling, which enables near-infinite recycling by retrieving intact carbon fibres.
The company has secured 2,900 tonnes of material annually (a 100 per cent YoY increase) and €50 million in contracted annual revenue, reflecting increasing market demand for its materials.
Sports has been a key entry point: Fairmat is now the go-to material for leading outdoor, running, and racquet sports brands seeking performance and environmental responsibility. Following this success, Fairmat is expanding rapidly into mobility, electronics, and energy.
Fairmat proves that performance and circularity can go hand in hand, offering materials with:
- Exceptional mechanical strength and lightness
- Competitive costs compared to virgin materials
- Reduced carbon footprint with no loss in quality or efficiency
The company is also expanding its range of applications, notably with Fairply, an innovative composite combining performance, accessibility, and sustainability – which accounted for 50 per cent of Fairmat’s order book in under 6 months.
According to Benjamin Saada, founder and CEO of Fairmat, materials are at the core of every industrial process.
“Disrupting this space means having massive impact — for both the planet and the consumer.
In just 3 years, we’ve received exceptional market validation from major European and American companies in the sports industry. With this fundraising, we now have everything we need to execute our vision: scale delivery, expand globally, and build the world’s first circular supply chain.”
The company next aims to lead mass-scale circular industrialisation trial and international development. This will include
- Triple production capacity by increasing automation and intelligence across FairFactories
- International expasnion
- Developing new applications in mobility, electronics, and energy through industrial partnerships
- Achieving the first fully circular loop by 2027 through Infinity Recycling
Clément Buyse, Founding Partner, Slate VC shared:
“Fairmat has industrialised an innovative, competitive, and sustainable solution in record time. With recognition from both European and US clients, the company is now poised for rapid growth. We’re proud to join forces with this exceptional team.”
Maïlys Ferrere, Director of Bpifrance’s Large Venture Fund shared:
“With its highly innovative carbon fibre recycling process, Fairmat is on the path to achieving the first fully circular loop for this material.
We’re proud to support the company in this next phase of industrial acceleration and global growth.”
Lead image: Fairmat. Photo: uncredited.
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