Leading bio-composite technology firm, Strong by Form, has successfully concluded its seed funding round, securing an impressive €4.8 million. The oversubscribed round, which saw a 25% increase in participation, was spearheaded by CMPC Ventures, the corporate venture capital arm of CMPC, a global giant in pulp and paper production.
Joining CMPC Ventures in the seed round are notable investors such as Climate Insiders, CiRi Ventures, MAIF Avenir, Teampact Ventures, Core Angels, Savia Ventures, Family Offices, and corporate venture capitals Symbia VC, FINSA, and VX Ventures.
At the heart of Strong by Form’s success is its groundbreaking Woodflow technology, heralded as the future of sustainable construction materials. This innovative solution provides an eco-friendly alternative to traditional structural materials like concrete and steel. With its impressive weight-to-strength ratio, freeform capabilities, and mass manufacturing approach, Woodflow has the potential to transform various industries, including construction and automotive.
Founder of Strong by Form, Andrés Mintik, expressed enthusiasm about the company’s ability to blend nature and technology, emphasizing the smarter, more efficient, and highly sustainable use of wood. The Woodflow technology, designed for massive deployment across industries, aims to address the climate crisis by positioning timber as a key player. Mintik expressed pride in the support from seasoned investors and corporates in the timber sector who share the vision of efficient, future-proof sustainable structural material technologies.
Currently concentrating on construction, Strong by Form is actively engaged in a project with Deutsche Bahn and is exploring additional markets through a close collaboration with the BMW Group. Originating in Chile in 2018, the company boasts a global presence with headquarters in Spain, offices in Stuttgart, Germany, and a pilot robotic manufacturing facility in Santiago, Chile.
The newly secured investment will fuel Strong by Form’s expansion, including doubling its size and establishing an industrial manufacturing facility. The focus of new hires will be on enhancing research and development (R&D) and product development capabilities, while a complete manufacturing team will be assembled. The first product, interior cladding solutions, is slated for launch in Q1, 2024, with a dedicated event planned at the WOW by FINSA space in Madrid.
Bernardita Araya, CMPC Ventures Manager, expressed excitement about the partnership, stating, “CMPC is very excited to partner with Strong by Form, and has an enthusiastic dedicated team of technical, strategic, and commercial experts to help the acceleration to industrial scale, making the most of the many synergies towards the development of these more sustainable construction solutions.”
