[Funding alert] Paris-based Greenerwave Secures €15 Million in Funding

Thursday 1, 2024 | By Startup Rise EU

Paris-based Greenerwave secures €15 million in funding from the Defence Innovation Fund, underwritten by the Defence Innovation Agency and managed by Bpifrance, Safran Corporate Ventures, Intelsat, BNP Paribas Développement and Plastic Omnium.

Paris-based Greenerwave secures €15 million in funding from the Defence Innovation Fund, underwritten by the Defence Innovation Agency and managed by Bpifrance, Safran Corporate Ventures, Intelsat, BNP Paribas Développement and Plastic Omnium.

Reconfigurable intelligent surfaces (RIS) and algorithms are used by the French deeptech, a spin-off from the Institut Langevin, an academic laboratory supported by ESPCI Paris and CNRS, to develop a breakthrough technology that improves the real-time direction of signal-carrying waves.

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With its superior performance, lower energy consumption, and reduced semiconductor requirements compared to traditional antennas, Greenerwave's technology directly tackles the pressing need to decarbonize the digital industry.

With the help of this investment, the business will be able to speed the development of a technology that has the potential to significantly impact the defense, space, automobile, and telecommunications industries both domestically and globally.

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Greenerwave creates metasurfaces with components that can "shape" electromagnetic waves in order to produce and manipulate directed beams. These metasurfaces are made up of a collection of centimetric-sized components known as pixels, which serve as tiny mirrors. Every pixel has the ability to change the reflected wave's sign.

Geoffroy Lerosey, co-founder and CEO of Greenerwave said, “With its deep roots in fundamental scientific research, our breakthrough technology will fuel innovation in several sectors, such as connectivity, autonomous vehicles, aerospace or defense,”.

This €15 million Series A financing comes after a 2016 up to €1 million in funding from the CNRS and business angels like Xavier Niel.

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Greenerwave is still being funded by new investors today, including significant industrials. These investors include the Defence Innovation Fund, which is overseen by Bpifrance, Safran Corporate Ventures, Intelsat, BNP Paribas Développement, and Plastic Omnium.

Muriel Prudent, Investment Director at Bpifrance said, “We are proud to support Greenerwave in this adventure, The technology’s defence applications are up-and-coming, as are those in a number of civilian sectors – as demonstrated by the presence of manufacturers alongside us. If we add to this the environmental promise of significantly reduced energy consumption, the project led by Greenerwave fully meets the challenges supported by the Defence Innovation Fund and Bpifrance”.

Sébastien Weber, President of Safran Aerosystems and President of Safran Passenger Innovations said, “By investing in Greenerwave, we have chosen a disruptive technology with the aim of creating the next communications terminal for commercial aircraft. We are convinced that the Greenerwave solution will democratize satellite communications for new constellations by providing a multi-constellation and economically competitive solution,”.

About Greenerwave

They were creating solutions for mobility and connectivity for everyone, everything, and everywhere. Greenerwave is a Deeptech product that uses a novel substance to regulate radio frequencies. They move the hardware complexity into the software, which is designed with industrial simplicity in mind.

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