With their sprayable PAR+ coating, Fotoniq helps growers create optimal daylight conditions inside greenhouses. The prospective benefits of PAR+ have drawn the attention of growers who, together with Fotoniq, have utilized this coating on several hectares of greenhouses in the Westland region (Netherlands).
Currently, the company is closing its latest investment, led by Navus Ventures and Icos Capital. The company aspires to attract more clients from the global market. "The current fundraising round allows us to scale up both our production capabilities and our market roll-out. This year, we plan to apply PAR+ coating solutions on ≥30 hectares, providing our customers with a product that meets their expectations", says Willem Kesteloo, CEO & Founder.
Fotoniq was founded on the belief that increasing the efficiency, sustainability, and profitability of greenhouses will satisfy the increasing global food demand. The team behind Fotoniq consists of innovators who aim to make high-tech greenhouses even more efficient, sustainable, and profitable.
Eduard Meijer, Managing Director at Navus Ventures B.V. says: “Various crop growing problems can be encountered when operating greenhouses. One of the key problems is how to create and maintain an ideal climate inside the greenhouse, which relies on factors such as the optimization of lighting and temperature. At Navus, we believe that Fotoniq has found a straightforward and effective solution that helps to solve this problem.”
Fotoniq developed and patented a coating (PAR+) that aims to bring year-round diffusivity inside the greenhouse without losing growing light intensity. "Using this new technology and our knowledge, we increase the performance of high-tech greenhouses by increasing crop yield and reducing energy costs", says Willem.
Peter van Gelderen, Managing Partner at Icos Capital commented: “Fotoniq offers an alternative to seasonal coatings or diffuse glass without making any of the concessions typically associated with those strategies. With long-lasting performance, the PAR+ coating can be easily integrated into existing infrastructure for a fraction of the price of diffuse glass. By applying this lower-price solution, growers can generate a bigger harvest and increase their profit with only a limited cost of investment."
The investment round was led by Navus Ventures and Icos Capital, which included participation by existing shareholders Phase2.earth and EG Wernink. The company is backed by experienced Dutch VC firms and Family Offices, such as SHAPE Capital and Timeless Investments.
Navus Ventures is a venture capital firm, part of the family office linked to Lely (Farming Innovators). Navus Ventures invests in start-ups and scale-ups thereby aiming to drive the ongoing sustainable transitions in food and energy. Icos Capital is a collaborative fund, which brings startups and corporations together intending to accelerate sustainability. Icos Capital has partnerships with European corporations in the food (Bühler Group), chemical (Nouryon), and agriculture (Royal Cosun) sectors. Investment fund Phase2.Earth strives for further scale-up and growth of the company. SHAPE Capital invests in various companies across various industries such as real estate, energy, and construction.
William adds that, on behalf of the entire team, he would like to thank all the investors for their trust and support.