PHYSEE concluded its Series A investment round by raising another 4 million euro. The company has now raised in total 8 million euro in growth capital to fund the European roll-out of its smart and sustainable building platform SENSE and to accelerate the industrialization of its light-converting coatings, PAR+.
PHYSEE, a spin-off from the Technical University of Delft, is an expert in the development of light-converting coatings. By adding PHYSEE’s proprietary POWER+ coating, which 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 commercializing its agricultural PAR+ coating, which converts UV light into PAR light, allowing crops to grow 7% faster in greenhouses. Once successful, the coating will significantly contribute to meeting the world’s growing food demand in a sustainable manner.
Coen van Oostrom, CEO of EDGE, which has participated again in this investment round after an initial investment in 2019, states: “The biggest challenge facing the real industry today is making our built environment healthier, sustainable and more inspiring. I am certain that innovation is and will remain the one true enabler for a much-needed revolution and PHYSEE is one of those companies that perfectly embodies this. I have been a huge fan of PHYSEE from day one and I am very excited to continue our support for the coming years.”
CEO and co-founder Ferdinand Grapperhaus jr.: “The fact that we have been able to quickly close the second half of our Series A investment round by attracting capital from new and existing investors, is a testament to PHYSEE’s potential and the focus from leading real estate developers to invest in sustainable and comfort increasing technology. 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 commercialization of our light-converting coatings.”
The growth capital was raised from new investors Phase2. Earth and Adunare and existing investors Job Dura and EDGE. The first half of the investment was closed last January.