Phononic Vibes, a deeptech startup developing innovative solutions for noise and vibration reduction, sees the completion of a new €6 million capital increase
MILAN, ITALY, July 5, 2022 /EINPresswire.com/ — Phononic Vibes, a deeptech startup developing innovative solutions for noise and vibration reduction, announces the completion of a new €6 million capital increase.
The deal is led by CDP Venture Capital SGR through the “Corporate Partners I” Fund, a Corporate Venture Capital fund that aims to involve leading Italian industrial companies to grow the Italian ecosystem by investing and supporting innovative startups and SMEs in the most strategic sectors for the country such as IndustryTech, EnergyTech, ServiceTech and InfraTech. In particular, the IndustryTech segment, which followed the investment in Phononic Vibes, intervenes to enhance the industrial and manufacturing sector. At the same time, Eureka! Fund I – Technology Transfer that 360 Capital – 360 Polimi TT Fund (Poli360) – reinvests in this round of funding, confirming the validity of the Company’s achievements and future prospects for further development.
The startup raised €500,000 in 2019, with an initial seed round led by 360 Capital-through the Poli360 Dedicated Technology Transfer Fund-and with the participation of Pantecnica Spa-an Italian company focused on products and systems for vibration isolation and mitigation. Subsequently, another 2.3 million round was completed in 2020, involving in particular Eureka! Fund I – Technology Transfer, the Fund managed by EUREKA! Venture SGR dedicated to investments in innovative ideas from Italian universities and research centers in the field of advanced materials, together with the former Investor 360 Capital – Poli360 Fund.
Phononic Vibes was founded in 2018 as a spin-off of the Politecnico di Milano, at the initiative of a group of researchers eager to exploit the technical knowledge developed at PoliMi and MIT in Boston in the field of metamaterials, i.e., advanced materials for acoustic and vibration control, whose performance is defined by the shape and topology of the unit cell and therefore independent of the raw material itself.
Based on this innovative technology and 11 proprietary patents, Phononic Vibes develops and markets solutions for noise and vibration protection that, compared to traditional solutions commonly used in the market, allow for high customization of acoustic solutions, with improved performance and raw material savings, thanks also to a comprehensive approach of circular economy and sustainability in the materials used.
The company is currently consolidating its presence in sectors where the issue of noise and vibration is relevant and where metamaterials have shown high potential for innovation. In Infrastructure, Phononic Vibes has developed and successfully tested with rail transport operator Deutsche Bahn a transparent and highly sound-absorbing panel; in Construction, with real estate developer LendLease, at MIND in Milan, sustainable and designer construction site fences; in Transportation and Appliances, it has built commercial partnerships with multinational companies for the application of metamaterials inside vehicles and appliances, being now in the pre-production phase.
The new financial resources will be used to invest in the technological development of products for the above-mentioned areas, to expand the customer portfolio by strengthening the facilities and team, with new skills related to the production and marketing of products.
“We are proud to welcome CDP Venture Capital SGR among our shareholders. The Corporate Partners I Fund, IndustryTech segment, is dedicated to the growth and development of the country’s manufacturing fabric. In this sense, we are convinced that it is an investor perfectly in line with our industrial plan and the development of our advanced materials (metamaterials). Thanks to this round, we will be able to scale our technology to product level with strong margins, serving the Italian and foreign markets, preparing for International growth. I would like to thank our team, partners, consultants and friends of Phononic, who played a key role in achieving this milestone.” says Luca D’Alessandro, CEO and co-founder of Phononic Vibes, adding, “The Italian Deeptech ecosystem is growing and we are proud to be an active player in it.”
“Phononic Vibes is the first startup to enter the portfolio of the Corporate Partners I Fund, and this transaction is the result of the great synergy with the corporate partners of our Industry Tech segment,” comments Marino Giocondi, Head of CDP Venture Capital SGR’s Corporate Partners I Fund, “The search for deeptech entrepreneurial realities that are able to intercept the new needs of the manufacturing sector is a central element in our strategy, and Phononic Vibes fully falls within this model thanks to the adoption of metamaterials in the phonon-vibrational applications of heavy industry and manufacturing.”
Stefano Peroncini, CEO EUREKA! Venture SGR, manager of Eureka! Fund I – Technology Transfer, says: “We renew Eureka! Fund’s investment in Phononic Vibes after appreciating the determination and resilience of the team, which has been able to evolve metamaterials technology to the point of identifying, in partnership with prestigious industrial partners, the most interesting commercial applications in the area of noise control and applications”.
Cesare Maifredi, general partner of 360 Capital, manager of Poli360 Fund, said:
“We are pleased to see a constant and renewed interest from institutional investors in this company in which we have believed since day one. With this additional cash infusion, Phononic Vibes achieves such financial strength that it can now focus on the commercialization of its products and thus position itself as a qualified partner of leading national and international companies in the sector.”
CDP Venture Capital SGR was assisted by the law and tax firm of EY with a team composed of Renato Giallombardo, leading M&A and private equity partner, senior manager Luca Spagna, manager Stefano Casamassima and senior Margherita Mercatali.
The Company, the Founders, EUREKA! Venture SGR and 360 Capital were instead assisted by ALMA Società tra Avvocati, with a team of professionals composed of Partner Roberto Nigro and Associates Sara Aratari and Giordana Rossi.
The notarial aspects of the transaction were followed by Notary Giovannella Condò, co-founder of the Milano Notai firm.
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