The German startup watttron was launched in 2016 and has since established itself in the areas of digital temperature control systems and sustainable packaging. The young company is a spin-off from the Institute for Processing Machines and Mobile Machines at the Technical University of Dresden and the Fraunhofer Institute for Processing Machines and Packaging Technology Dresden. Now watttron has raised 12 million euros in a Series B financing round.
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Heating system enables thermoforming for packaging
The financing round was led by the Circular Innovation Fund (CIF) and the European Circular Bioeconomy Fund (ECBF). The CIF, a global venture capital fund focused on innovation in the circular economy, is jointly managed by the European Demeter and the North American Cycle Capital. Also involved are long-standing partners of watttron such as the TGFS Technologie Gründerfonds Sachsen, Constancia New Business (CNB), SKion GmbH and BA Rico Kleinhempel.
The new round of financing is intended to enable watttron to further expand its technological capabilities in the area of sustainable packaging solutions. The young company now wants to establish itself on the American and Asian markets. watttson has developed its own, patented heating system that can be used to carry out various thermal processes in the manufacturing industry. This includes thermoforming, in which various materials can specifically change their shape using heat. Sealing and welding processes are also possible with the system. This allows complicated packaging geometries to be implemented worldwide.
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watttson sees sustainability as a “serious obligation”
These particularly precise and efficient processes are intended to lead to more environmental friendliness in the manufacturing industry. “For us, sustainability is not a passing fad, but a serious commitment. We are convinced that the future of the packaging industry will be characterized by sustainable practices. We are therefore pleased to contribute to this with the support of the ECBF and the Circular Innovation Fund,” says Marcus Stein, CEO of watttron.
“watttron’s technology marks groundbreaking progress in the area of sustainable packaging. It helps to dramatically reduce CO2 emissions by minimizing material and energy consumption and enabling the use of mono-materials. This significantly improves recyclability. However, this investment goes beyond financial support; it is a clear commitment to the pioneering role for a greener and more efficient future in the packaging industry. By simultaneously increasing production efficiency and cost efficiency, it paves the way for sustainable development and innovation,” explains Guillaume Gras, Investment Director of ECBF.