Enfucell, a developer and licensor of printed battery technology, has exceed its crowd funding target of 300,000 Euros by raising over 400,000 Euros.
The company has been working on printed batteries for more than a decade, developing thin and flexible batteries. The business model consists of selling technology licenses and special battery materials to manufacturers, and it has licensed the technology to six companies on three continents.
The first application of the Enfucell SoftBattery® technology is expected to be logistics, sports and healthcare, according to Markku Ellilä, CEO of Enfucell.
"We are involved in each sector with partners, by developing customized prototypes of low-cost IoT devices using SoftBattery® technology. We will follow up selected projects by entering into the business of selling the devices," says Ellilä.
He reports, "Enfucell pursues funding through crowdfunding instead of venture capital funding, because we aim to broaden our investor base in preparation for a potential public listing. Assuming the successful implementation of plans, we are targeting a potential public listing, possibly on the First North marketplace during the next few years."