PlasmaBound, a Dublin, Ireland-based University College Dublin (UCD) spin-off that focuses on lightweight technologies, announced that it secured €2.35 million in funding.
The round was led by Act Venture Capital. Other investors, including Atlantic Bridge University Fund, Enterprise Ireland, and several private investors, also participated.
PlasmaBound will use the funds to accelerate towards enabling its vision of sustainable lightweight materials being a standard feature on vehicles, devices, and structures globally.
Company: Plasmabound Limited
Funding Month: May 2022
Lead Investors: Act Venture Capital
Additional Investors: Bridge University Fund, and Enterprise Ireland
Company Website: https://www.plasmabound.com/
Software Category: Controlled Polymer Ablation
About the Company: PlasmaBound is a University College Dublin (UCD) spin-out based in NovaUCD and led by CEO and New Process Introduction (NPI) specialist Alan Barry. The company has developed a technology that helps composite materials lose weight with a positive focus on carbon emission and sustainability. PlasmaBound provides a step-change technology, termed Controlled Polymer Ablation (CPA), which facilitates the structural adhesive joining of lightweight materials, namely carbon and glass fibre reinforced composites. CPA technology will accelerate the use of these lightweight composite materials into multi-material structural assemblies by enabling reliable adhesive joining which is stronger than the composite structures themselves. The technology is deployed in a SaaS model with term-based licensing.