FenX closes CHF 2.7 Million Seed Financing Round

FenX AG, a developer of sustainable mineral foams for building insulation, closed a seed financing round backed by a group of experienced industrial and financial investors. The start-up will now setup the first production facility and prepare the market entry.

FenX’ patented technology uses mineral waste and low-value inorganic particles to produce a cost-effective solution for a sustainable, safe and efficient thermal insulation of buildings. This approach has convinced several very experienced investors and construction tech insider including Anton Affentranger, the former CEO of Implenia. Affentranger, who invested and serves as Chairman of the Board, said: “The FenX team has developed a technology that has all the ingredients to change the rules of the game in the construction materials market. I’m very proud to participate in the further development of the company and thereby help contributing to reducing the carbon footprint of the construction industry. The first-class FenX founders’ team is now backed by a committed group of industry and financial experts”.

Apart from CIMA Corporate Investment Management Affentranger Holding SA the group of investors includes among others TRfinanz Holding AG, Zürcher Kantonalbank, CADFEM International AG, Swiss Prime Site AG, the ETH Zurich Foundation and ValueBridge GmbH. The round also includes the funds obtained from the Klimastiftung Schweiz and the EU Framework Programme for Research and Innovation Horizon 2020.

“This financing round is a major milestone for our team. It brings us an important step closer to the realization of our dream of sustainable buildings. The funds raised will enable us to scale-up our production while developing trust and confidence with our customers: the two necessary ingredients in our quest to address the massive carbon footprint of buildings, an issue that needs to be solved fast”, says co-founder and CEO Etienne Jeoffroy.

(Press release / SK)Picture: FenX