Inspiralia, a European new product development group, said it invested in the $2.5 million financing round of SP Nano Ltd., an Israeli nanotechnology firm for enhanced composite materials. SP Nano’s existing investors Docor International, Consolidated Investment Group and iVentures Asia were also participants in this round.
The company said it will provide additional support for SP Nano through its technical and laboratory services and take “an active role in promoting SP Nano’s unique reinforcement technology in the European market.” SP Nano commercializes the use of nanoparticles in markets such as composite materials, mechanical rubber goods, adhesives, resins and conductive textiles, the company said.
Inspiralia was founded in 2005 and positions itself in the market as a new product development firm specializing in concept generation, innovation strategy and technology from initial development to market launch. Its clients are within industries such as advanced materials, electronics, automation, health care and agriculture. The company is headquartered in Madrid with a presence and partners in London, Milan, Paris, Tel Aviv and the Nordic region. Inspiralia works alongside Toro Ventures, its corporate venture capital arm.
Erez Maor, managing director of Toro Ventures, said the investment in SP Nano marks its “first significant investment in Israel.” He added that the firm implements the “world’s most innovative technology used to disperse and bind nanoparticles in composite materials using a protein,” and that its “SP1 technology is proven to improve the properties of fabric-resin composite parts to create stronger and lighter parts, at an affordable price.” Maor continued, “We see numerous applications for SP Nano technologies and have a strategic plan to assist with scaling research and development and commercial activities in the European region, in line with our core expertise.” Maor will also join SP Nano’s board of directors.
SP Nano’s proprietary SP1 technology enables “nontoxic and resilience superior to existing chemicals solutions” and allows for potential “to significantly improve adhesion between layers of substrates such as carbon/glass fiber and aramid,” which collectively improves material performance properties, lowers manufacturing costs and creates lighter, stronger parts, all according to the firm. SP Nano said it will soon venture into new categories for a variety of end-markets including aerospace, construction, transportation, marine, wind energy and sports equipment.
Jon Lippin, chief executive officer of SP Nano, said the investment is “an important step in the journey for SP Nano to become the leading material reinforcement solution in the composites materials market.”
For More Textile News From WWD, See: