CompPair Technologies Ltd. announces the closing of a funding round to strengthen company activities, foster growth within the composites industry and expand the team. Complimentary funding from public entities, InnoSuisse and Eurostar, positions CompPair as a global solution provider within the industry. The funding round, led by existing shareholders and completed by new investors, highlights and supports the company’s growth phase in the composites sector.
“I am delighted to represent CompPair as president of the Board of Directors. Over the past two years in this role, I have witnessed CompPair’s transformation from a spin-off company to a thriving entity with a strong industrial presence and commitment to delivering sustainable composite products. This financing marks a pivotal moment, propelling the company to the next growth stage. I eagerly anticipate further growth in the industry!”, states Marie Ivorra Grosse, ex-CEO of Ruag Space. CompPair is a solution provider, bringing embedded ultra-fast repair to all composite applications.
Founded four years ago, the Swiss company has launched three product lines, including prepregs and LCM processes, also adapted to sandwich structures. CompPair’s technology, HealTechTM, enables an in-situ repair in only a couple of minutes while maintaining the same properties. It has demonstrated a global interest in the composites industry, ranging from sports, leisure, luxury, energy, industrial to aerospace applications. This investment aims to further reinforce CompPair’s commercial activities, foster growth, and strengthen the team to secure the company’s long-term viability.
Inspired by nature, CompPair’s goal is to extend the lifetime of composite parts, to prevent unnecessary waste. The company brings a sustainable and cost-effective solution for various composite processes, along with the team’s eco-design and repair expertise, prototyping, and production capacity. Several economic and environmental benefits have been demonstrated, including cost savings, CO2 emission reductions, faster repairs, impact and fatigue healing, improved crack resistance, and an efficient recycling process at the end of life.
This investment round, coinciding with substantial public funding from entities like InnoSuisse, will enable the company to reach significant milestones in commercial implementations. A portion of the funding constitutes a Swiss Accelerator innovation project supported by Innosuisse, to develop low- viscosity resin formulations. The remaining funding is allocated to a Eurostar program dedicated to the advancement of bio-based resins. Anticipated outcomes are the availability of complementary off-the- shelf products on the market and the opening of new market perspectives. The funding will accelerate the operation of the industrial-scale production capacity, allowing the company to operate at significant levels.
CEO and co-founder, Amaël Cohades: “Considering the milestones reached so far and anticipating the road ahead, I am proud to reinforce CompPair’s journey, both industrially and on the market. The company has demonstrated its crucial role in extending the lifetime of composite applications, addressing durability challenges, and delivering financial benefits. I am excited about maintaining the momentum in achieving milestones and envision CompPair being widely implemented within the industry. I would like to thank our investors who showed their trust and confidence in CompPair’s activities. I also extend gratitude to our partners, companies, foundations, and advisors for their support thus far. Most importantly, congratulations to the team, whose dedication has made this journey possible.”
Since its foundation in early 2020, CompPair has embarked on a successful journey. The Swiss company has received strong support from both the Swiss and international startup scene, winning numerous awards and non-dilutive funding, completed by a first investment round, closed in spring 2021.
Noteworthy milestones include CompPair’s selection for the ESA BIC program, which has grown into current activities with the European Space Agency (ESA) on diverse aerospace projects. In 2021, CompPair proved the value of its innovation by winning the JEC Composites Startup Booster, the leading startup competition in the composites industry. The HealTechTM technology has received the Solar Impulse label, attesting to its sustainable and economic viability. In 2022, CompPair was awarded with the Prix Strategis award, recognizing the “Best Swiss Startup”. The company has increased its client base within the composites industry through several implementations across the sports, leisure, aerospace, and mobility fields.
(Press release)
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