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Fairmat Declares EUR 34 Million Series A round to Recycle Advanced Materials Using Robotic Technologies November 28 2022

2022 Lucintel Composites Market Insights, November 28, 2022

Fairmat, the Paris-based sustainable deep tech start-up pioneering the recycling of advanced materials, has completed its Series A funding round at a total of EUR 34 million, one of the largest Series A rounds for a deep tech startup in both France and Europe as a whole this year.
This oversubscribed financing operation was co-led by Singapore investment company, Temasek and the Belgian group Compagnie Nationale a Portefeuille (CNP/Groupe Frere), and with participation from a group of investors including original seed funding VC Singular, Swiss-based wealth and asset managers, Pictet Group, and The Friedkin Group International, the London-based investment arm of an American consortium of automotive, hospitality, entertainment, sports and adventure companies. Prominent business angels like Danone CEO Antoine de Saint-Affrique, other CEOs and founders of successful tech startups also joined in this round.
"Recycling advanced materials like carbon fiber composite is one of the strongest actions we can take to accelerate the decarbonization of the manufacturing sector," declared Ben Saada, Fairmat's CEO. "Today, we are thrilled to see our vision of a next generation of materials coming to life as we are accelerating our production and expanding our international development."
The company will use the funds to accelerate the deployment of its robotized industrial capabilities, including the ramp up of its newly inaugurated automated sorting plant, which will host over a hundred robots and be able to handle up to 3,500 metric tons of scrap per year. Additionally, the company will be expanding internationally into new markets, starting with the United States in 2023 and Spain, Germany, soon after.

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