Seven months after raising 51.5 million euros, deeptech startup Fairmat announces a 10 million euro extension of its Series B, led by Infinity Recyclingmanager of Circular Plastics Fund based in Luxembourg. This operation brings Fairmat’s financing to more than 61 million euros in this round.
A Franco-Dutch alliance to accelerate industrialization
Created in 2020 by Benjamin SaadaFairmat has developed a patented technology of carbon fiber recycling from a process cold plasma allowing the integrity of the material to be preserved, and complete the life cycle composite materials
The arrival ofInfinity Recyclinga social impact fund of 175 million euros managed from Rotterdam, marks its first investment in France. This agreement illustrates the growing cooperation between European impact funds and French industrial startups.
AI and robotics at the heart of circular production
Both FairFactories of the startup, in France and the United States, operate like smart factories integrating AI, robotics and machine learning. This industrial architecture makes it possible to achieve a monthly production of between 6,000 and 10,000 m² of recycled compositesequivalent to three football fields transformed each month.
Fairmat now wants to deploy its model in vertical newsnotably mobility, sport, construction and energy, relying on a continuous industrial learning system.
Infinity Recycling, spearhead of European circular capital
Founded in 2020, Infinity Recycling invests in technologies advanced recycling intended to transform plastic and composite waste into virgin quality raw materials. His portfolio already counts nine companies distributed over eight countriesincluding the United States, Canada, Switzerland and the United Kingdom.
According to Jeroen KelderManaging Partner of Infinity Recycling:
“Fairmat responds to one of the biggest environmental challenges, composite waste, while creating recycled products with high added value. This investment reflects our desire to support the transition to a more sustainable industry and to support Fairmat’s ambition to establish itself as a world leader in sustainable materials.”
A key step towards the first global circular supply chain
Fairmat aims to full circularity by 2027thanks to the deployment of its Infinity Recycling technology across its entire supply chain. This project is part of a broader movement of green reindustrializationwhere France emerges as a key territory for European deeptech investors.
An extension of fundraising to change scale
Fairmat has finalized a series B of €51.5 milliondistributed between €26.5 million in capital And €25 million in venture debt granted by the European Investment Bank. This tour is co-led by Bpifrance (Large Venture) And Slate VCwith the participation of Cape Capitalas well as historical investors Singular, Temasek, NOC And Pictet Group, to which are added 10 million euros contributed by Infinity Recycling. The company has previously raised 44 million euros from Temasek (Singapore’s sovereign investment fund), the Belgian CNP group, the Pictet group, Singular, The Friedkin Group International.
