German recyclable packaging company IonKraft has secured €3.5m ($3.6m) in equity financing to advance its plasma-based barrier coatings for the packaging industry.
The investment round, co-led by M Ventures and TechVision Fund, with participation from High-Tech-Gründerfonds (HTGF), will facilitate IonKraft's market entry and production scaling.
The company is on track to deploy its first industrial coating system by the end of the year, with product launches expected next year.
IonKraft co-founder Benedikt Heuer said: “This financing round is a decisive step to support the market launch of our technology and to prepare for future scaling. We are thrilled to have a diverse group of investors who share our vision and will provide us with support on multiple levels.”
Founded in 2021 by Dr Montgomery Jaritz and Benedikt Heuer, IonKraft has developed a patented high-barrier technology that renders containers chemically resistant and fully recyclable.
The solution is claimed to offer a sustainable alternative to millions of tonnes of non-recyclable multilayer or fluorinated (PFAS) packaging.
IonKraft's technology has been supported by the Federal Ministry for Economic Affairs and Climate Action’s (BMWK) EXIST research transfer programme, and has received funding from the European EIC Accelerator programme in 2023.
IonKraft has demonstrated the effectiveness of its coatings in various applications, enabling manufacturers to produce fully recyclable products that reduce environmental impact and carbon footprint.
The additional funds will also support team expansion and machine production scale-up.
M Ventures managing director Owen Lozman said: “IonKraft’s innovative coating is appealing for a variety of reasons: it provides an alternative to PFAS, which is being regulated; glass, which is prone to breakage or requires secondary packaging, and has the potential to maximise recycled content in future plastic packaging solutions.”
IonKraft is a spin-off from the Institute for Plastics Processing at RWTH Aachen University in Germany. It is funded by EXIST Research Transfer and the EIC Accelerator program of the European Innovation Council.
