FibreCoat has recently raised close to €20 million from NewSpace Capital, Goose Capital, Nova Saint-Gobain, 212 NexT, Otto Krahn New Business, Convergent Ventures and TiE in its Series B raise.
FibreCoat’s materials, which are lightweight, cost-effective, high-performance and have widespread applications, have proven themselves in a number of industries, and are now well-positioned to meet surging demand in the space and defense sectors. Robust material is essential for the durability and reliability of military equipment in hostile environments.
The company, which was founded in Germany in 2020 but has been developing its technology since 2014, has invented a novel technology to coat metals and plastics onto fibers, thus combining the properties of the fibers and the coating material during the fiber spinning process. Its products offer strength, conductivity, and recyclability at a fraction of the weight and cost of their competitor products. This is thanks to the team’s extensive expertise and strong research-and-development background at RWTH Aachen University, where the founding team worked at the Institute for Textile Technology.
Spacecraft, from launchers to satellites, must also withstand harsh conditions, including intense radiation, extreme temperatures, and electromagnetic interference (EMI). They must also be as lightweight as possible for reasons of efficiency and cost-effectiveness.
The World Economic Forum has predicted that the global space ecosystem will reach $1.8 trillion in value by 2035, in part due to growing demand for space-enabled services across the global economy. The EMI shielding market alone is expected to be worth $9.3 billion by 2030. The global defense market is anticipated to grow from $477 billion in 2020 to nearly $600 billion by 2027, with increased investments in advanced technologies such as electronic warfare systems and electromagnetic protection.
Through its strategic partnership with NewSpace Capital, which co-led the round with Goose Capital, FibreCoat will be able to further its reach in the booming commercial space ecosystem, meet demand for radiation-, heat- and EMI-resistant materials, and drive innovation in the sector.
FibreCoat has grown rapidly since its founding and sought the fundraise in order to scale more quickly. It is now positioned to become the world’s largest coated fiber manufacturer, expanding its production sites and developing new coatings for space and defense.
Dr. Robert Brüll, CEO at FibreCoat, said, “We’re grateful to NewSpace Capital, Goose Capital and all our investors for backing us. We’re an ambitious team who are keen to innovate, increase production and satisfy demand for basic building blocks for defense, space, automotive and other crucial sectors. Affordable, high-performance materials are vital for electric vehicles, while in defense, there is real demand for yarns for sensors, circuits, shielding and chaff material. Space is also a critically important sector, one that touches every area of the world economy. It’s growing rapidly, and both launchers and satellites increasingly need the coated fibers we develop to withstand harsh conditions and EMI. NewSpace Capital will help with their extensive network and market knowledge, so we can bring our low-cost, high-performance materials to those who need them. It’s an exciting time for the company.”
Bogdan Gogulan, Managing Partner of NewSpace Capital, said, “We think long and hard about every investment we make. The young, energetic and ambitious FibreCoat team impressed us. They’ve grown quickly as a company, have a strong R&D background, and have shown great adaptability as market needs have evolved. We see this investment as an opportunity to grow a differentiated player within the space sector. FibreCoat is solving a major problem in the space industry, which is the exposure of spacecraft to radiation, heat, EMI and other conditions. The company is also a great example of how the space and non-space supply chains are converging – a trend that has been clear to see over the last decade. There are significant synergies between space, defense, automotive and other terrestrial markets in which FibreCoat operates. There are a number of industrial partners that came into this round with us, highlighting the spillover from space to non-space market segments and vice versa. There are also very interesting synergies with some of the other companies in our portfolio. We’re delighted that FibreCoat has chosen NewSpace Capital to co-lead this round.”
Andrew Nicholson, Managing Director at Goose Capital, said, “We are proud to co-lead FibreCoat’s Series B round alongside NewSpace Capital. This investment builds on our support from the Series A round in 2021, reaffirming our belief in FibreCoat’s exceptional founding team and their transformative approach to coated fiber technology. FibreCoat is uniquely positioned to drive innovation across industries with their lightweight, cost-effective coated fibers, and we are excited to be part of their journey as they scale to become the global leader in this space.’
FibreCoat employs 42 members of staff and has three production sites.
