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Clim8 generates €2.75 million

Aug '20
Pic: Clim8
Pic: Clim8
Clim8, the young innovative company from Lyon, France, has generated €2.75 million from Seventure Partners, Agileo Ventures and the Deveaux Group in a financing round. The funds are meant to accelerate the company’s growth and development of new products. The company, founded in 2016, leads in connected textiles market with its patented thermal technologies.

With more than 50 per cent of its sales abroad, Clim8 already counts major premium outdoor sports equipment brands in Europe (Odlo, Ixon), South Korea (K2 Korea), Japan (TheNorthFace) and the United States (WL Gore, Burton). With this A Series, managed by the Mazars Corporate Finance teams in Lyon, the company wishes to continue to strengthen its leadership position and conquer new markets.

“Clim8 continues to think bigger with this new round of financing and reinforces its leadership in the e-textile market. These strategic partnerships with Seventure Partners, one of Europe’s leading innovation capital firms with a fund specialising in the sports economy (Sport and Performance Capital), the Deveaux Group, and Agileo Ventures, structure of financing and support for innovative companies in the specific fields of Sport and Entertainment, Technology and Science, aim to support the growing activity of the startup and to bring their respective expertise in the fields of innovation, deeptech and industrialisation,” the company said in a statement.

“This round of €2.75 million (excluding banking) merges three main objectives: Clim8 ambition to bring its technologies to new industries (industrial, defence) as well as to new international markets. Secondly, the company aspires to consolidate its research and development department with, among other things, the creation of the ‘Clim8 Lab’. This will notably give greater agility in the development of new products and prototyping and will push even further the scientific research around the different technologies manufactured. Finally, the start-up wishes to strengthen the team with new strategic collaborators to support its growth,” Clim8 added.

Florian Miguet, CEO of Clim8, explained: “We are the only ones today to offer a breakthrough technology in active thermoregulation to generate comfort that adapts in real time to the user and the environment. We have developed a large IP portfolio and we have a team of specialists working with scientific, industrial and technology ecosystems. Clim8 was born in a hybrid environment of physiological research and knowledge of user needs. Since our beginning, premiums brands we partnered up with have appreciated and recognised our deep technical and scientific knowledge and trust us to engineer the thermal clothing of tomorrow.”

“With this fund raising, Clim8 brings together international investors with expertise in deeptech and industrial innovation, two pillars of the company’s future development,” Clim8 concluded.

Fibre2Fashion News Desk (SV)

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