Leipzig, Germany-based DeepTech company, intelligent fluids raised EUR 10 million in Series B. The round took place on March 15, 2023. USA-based sustainability fund Wave Equity Partners led the financing for the company. Meanwhile, existing institutional investors, High-Tech Gründerfonds (HTGF) and IBG Sachsen-Anhalt, joined in the funding.
Purpose of financing for intelligent fluids
With the latest financing, intelligent fluids seek to ramp up its hiring operations and grow its team.
The company also has plans to increase manufacturing capacity at its German plant. It further aims to initiate expansion into global markets through the establishment of manufacturing entities. The company intends to open manufacturing units in regions such as the USA, India, MENA and Taiwan.
What the company’s official has to say
Christian Römlein, CEO of intelligent fluids, said, “The funding by WAVE Equity Partners demonstrates the value of the innovation we have developed and enables us to provide direct support to our global customer base through local production facilities. WAVE has a tremendous track record in backing sustainable technology innovation, and we are glad to have their support in this journey.”
He further said, “We have proven that sustainability and superior performance can co-exist. We aim to set up new benchmarks in this industry and usher in the post-solvent era of cleaning.”
What the investors have to add
Praveen Sahay, Founder and Managing Director of WAVE Equity Partners, said, “The companies we invest in have exceptional green innovations for global markets, thereby enabling a healthier planet. We are thrilled to have added a pearl of German engineering to our portfolio with intelligent fluids. With our massive support, we forecast impressive development for the company over the next few years. The ambition to make a real impact with a combination of performance and sustainability will benefit not only the environment but also many companies and their ESG balance sheets.”
About the company
Christian Romlein and Dirk Schumann launched the company in 2006. The company is a Germany-based award-winning DeepTech startup.
Intelligent fluids (IFC) revolutionizes industrial and commercial cleaning with non-toxic, water-based and biodegradable technology. Moreover, the company has patented technology. Conventional cleaning agents are aggressive, hazardous to health and harmful to the environment.
The company’s offerings also deliver superior performance as compared to solvent-based cleaners, with significant reductions in carbon emissions, material consumption as well as energy costs. The products are for professional use in production, trade, crafts as well as households.
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