PlasmaBound Raises €3.1M in Funding During 2022

PlasmaBound, a Dublin, Ireland-based automation machinery manufacturing company, raised €3.1M in funding during 2022.

The funding came from Business Venture Partners (€750k in December 2022), Act Venture Capital, Atlantic Bridge and Enterprise Ireland.

The company intends to use the funds to accelerate growth, expand operations and its business reach.

Co-founded in 2017 by Dr James Nicholas Barry, Alan Barry and Xavier Montibert, PlasmaBound has developed Controlled Polymer Ablation (CPA), a bonding technology for lightweight composite materials which enables high speed and low-cost bonding of ultra-lightweight materials. The company’s vision is to make lightweight materials affordable for low to mid-range vehicles, moving the drive toward lower CO2 emissions and longer EV ranges into mass-market applications. This will accelerate viability of the EV proposition and have a step-change impact on sustainable manufacturing.

A University College Dublin (UCD) spin-out company headquartered at NovaUCD, PlasmaBound was recently selected as one of 5 start-ups to win access to the Hyundai Motor Company and KIA Corporation sponsored 2022 Accelerate the Future Challenge. 

Reporting: FINSMES