Venture Kick, a private philanthropic initiative, provides as much 150,000 Swiss francs in pre-seed funding to Swiss startups and offers structured, entrepreneurial training to build robust, winning businesses. Entrepreneurs pitch for finance as many as three times, as they compete for increasing amounts of funding at each stage. Founders gain direct feedback from the expert juries and access to an international network of successful entrepreneurs and investors. Venture Kick has supported 600 Swiss startup projects with 24.9 million francs to date. Supported projects have incorporated as 454 active companies, creating 6,033 jobs, and attracting 2.49 billion francs worth of subsequent investment. Companies founded by Venture Kick alums represented 55 percent of the TOP 100 Swiss Startup Award 2018.  In 2019 Venture Kick will support idea-stage startup projects with 4.35 million francs, to bring Swiss science to global markets.

Venture Kick

Capital Risque Fribourg is a venture capital that provides funding opportunities for startups and SMEs. The company’s product portfolio includes creating jobs in Canton, Entrepreneurial quality design, industrialization, shareholder loans, identifying promising markets, and more.   Capital Risque Fribourg was founded in 1998 is headquartered Fribourg, Switzerland.

Capital Risque Fribourg

TR Invest

BMW i Ventures invests in cutting-edge solutions focusing on BMW’s current and future business in the technology and customer and service space. BMW i Ventures invests in high-performance companies and helps them execute quickly by delivering agile precision—ensuring real-world impact on hardware, software, sustainability across manufacturing, transportation, and services.

BMW i Ventures

Volvo Cars, the premium car maker, has an investment fund aimed at investing in high potential technology start-ups around the globe. The aim of the Volvo Cars Tech Fund is to invest in strategic technology trends that are transforming the industry, such as artificial intelligence, electrification, autonomous driving and digital mobility services.

Volvo Cars Tech Fund

Porsche Ventures is a venture capital arm of Porsche that invests in companies from early-stage through growth. The firm was founded in 2018 and is headquartered in Stuttgart, Baden-Wurttemberg, Germany.

Porsche Ventures

The Generali Group is one of the significant players in the global insurance and financial products market. Characterized from the very outset by a strong international outlook and now present in more than 60 countries, Generali has consolidated its position among the world's leading insurance operators, with significant market shares in western Europe   In its core insurance business, the Generali Group is primarily focused on the life segment, where it is the European leader. Its offer ranges from savings and family protection policies to unit-linked policies and complex plan for multinationals. In the non-life segment,  its portfolio ranges from mass-market coverage such as Car, Home, Accident & Health, to sophisticated commercial and industrial risk coverage.    Generali is a leader in the retail segment and it is increasing its contribution to the commercial & corporate business, in which it serves medium and large companies at international level leveraging the Group's global reach and its strong ties with international brokers.   In addition, Generali is among the world's major players in the field of assistance, through the Europ Assistance Group, which provides worldwide services in the motor, travel, health, home and family lines of business.   The Group is committed to achieving the optimal client segmentation and enhancing product innovation in order to deliver a targeted approach to clients. Generali aims to be best-in-class for client retention and satisfaction.   Generali Group operates in the insurance sector with a multichannel distribution strategy through a global proprietary sales network of agents, financial advisors and brokers, supported by bancassurance and direct channels (internet and telephone) where it is Europe's leader.

Generali Group

Airbus Ventures invests in autonomous mobility, electrification, low-carbon economy, advanced materials, manufacturing systems, next-generation computing, sensing, security, and beyond. AV continuously fosters close and trusted relationships with other leading venture firms, actively offering hands-on expertise to our portfolio companies. We proudly leverage the richly dense networks of our mothership Airbus and its supply chain, as well as the wider ecosystem of our Limited Partners. We work with multiple LPs – including Airbus SE, Development Bank of Japan Inc., Mitsubishi HC Capital, Fuyo General Lease Co., Ltd., and McKinley Capital – to better enable our entrepreneurs to grow and succeed.

Airbus Ventures

EGS Beteiligungen invests in Swiss companies and actively contributes to the sustainable, positive development of those companies.

EGS Beteiligungen

Verve Ventures is a European startup investment platform for qualified and institutional investors. Their fully digital platform enables private investors to build a diversified portfolio with investments starting at CHF/EUR 10'000. Since its launch in 2010, Verve Ventures has invested more than EUR 130 million in over 100 startups. Their community consists of 5’000 registered qualified private investors, family offices, and pension funds. Several institutional investors such as a large Swiss pension fund and numerous corporates also rely on their expertise to invest in promising startups. Verve Ventures is backed by Switzerland's third-largest bank, Zürcher Kantonalbank. They have a dedicated investment team based in Zurich, Lausanne, Berlin, Paris, and Cambridge, that screens thousands of startups each year and selects the top 1% after a rigorous due diligence process. They are reshaping the European venture capital landscape and granting investors superior access to this traditionally intransparent asset class. They source the best deals, and structure rounds, and enable their investors to participate in competitive startup deals.

Verve Ventures

Zürcher Kantonalbank is an independent, incorporated public-law institution is its public service mandate. Enshrined in law, it governs the bank's economic, social, and environmental commitment.

Zürcher Kantonal Bank

To be the first point of call for company founders from Central Europe who want to create history with their start-up. Our private independent early-stage boutique Venture Capital fund focuses on this promise. Our strategy is linked to technologies that benefit people and the planet. It’s a privilege for us to partner with people who see opportunities around the corner. To them success is not about mere status, it is about making an impact.

RKKVC

Bcomp

Bcomp is a Fribourg-based startup that specializes in natural fiber composites. Bcomp has developed and patented technologies allowing the fabrication of structural parts from natural fibres. The company's IP is composed of a patent and several years of developments of specific processing technologies derived from the aerospace or marine industry. While  increasing and consolidating our R&D efforts through a network of academic partners, the company develop  products in close collaboration with the company'scustomers to account for their specific needs.

Based in Switzerland, Bcomp offers high-performance, lightweight natural fiber composite made using flax fibers derived from the indigenous flax plant. Bcomp offers two technology solutions “AmpliTex” and “PowerRibs” for the automotive, motorsports, marine, and aerospace industries. AmpliTex is a reinforcement fabric range and PowerRibs is a reinforcement grid, which is used together for weight and plastic reduction for a range of applications such as motorsport bodywork, automotive interiors, and space satellite panels. The two solutions are considered to be a sustainable alternative to carbon fiber composite materials and offer performance similar to that of carbon-fiber composite materials including high vibration damping, and weight reduction properties.&nbsp;&nbsp;

Earth-friendly biotech solutions for the textile, packaging and construction industries.

Bio-based Materials

Bcomp Closes USD$40M Series C Funding

Volvo Group

Volvo Cars released the recycled plastics demonstrator XC60 vehicle, which uses Bcomp’s natural fibre reinforcement technology powerRibs combined with ocean plastic to form a novel composite material for its semi-structural automotive interior parts, and simultaneously cuts up to 50% weight compared to standard parts.

Developers of alternative materials for industrial applications such as sporting goods, electronic components, and automotive parts

Based in Switzerland, Bcomp offers high-performance, lightweight natural fiber composite made using flax fibers derived from the indigenous flax plant. Bcomp offers two technology solutions “AmpliTex” and “PowerRibs” for the automotive, motorsports, marine, and aerospace industries. AmpliTex is a reinforcement fabric range and PowerRibs is a reinforcement grid, which is used together for weight and plastic reduction for a range of applications such as motorsport bodywork, automotive interiors, and space satellite panels. The two solutions are considered to be a sustainable alternative to carbon fiber composite materials and offer performance similar to that of carbon-fiber composite materials including high vibration damping, and weight reduction properties.&nbsp;&nbsp;Bcomp claims that its solutions offer 30% higher cost-efficiency compared to carbon fiber composites, weight reduction by 50%, and reduce CO2 emissions and plastic use by 85% and 70% respectively. In addition, the solutions are compatible with existing manufacturing processes and molds used for carbon fiber composites and eliminate the need for traditional consumable items in manufacturing such as breathers and bleeders, reducing costs. As of July 2024, the company operates a production facility in Fribourg, Switzerland (capacity level undisclosed).Key customers and partnershipsBcomp’s solutions have been used by leading automotive manufacturers such BMW, Volvo, and Porsche as well as in motorsport series such as Formula E and Formula 1. For instance, BMW has tested and validated ampliTex and powerRibs products in its motorsports cars for various exterior and interior bodywork since 2019 and is planning to integrate ampliTex and powerRibs into its road cars in the future.Funding and financials<a href="https://sp-edge.com/updates/9613">In March 2022,</a> Bcomp raised CHF 32.4 million (USD 35 million) in Series B funding led by a group of strategic investors including BMW iVentures, Volvo Cars, and Porsche Ventures. In <a href="https://sp-edge.com/updates/28822">April 2024</a>, the company raised 40 million in Series C funding to expand production capacity and facilitate the company's expansion into new markets in Asia and North America.

<div>
 
 Bolt Threads manufactures vegan &ldquo;spider&rdquo; silk and mycelium-based materials. Bolt Threads develops isolated silk proteins from proteins inspired by spider silk through a yeast fermentation process. The company&rsquo;s Microsilk products are sold under its clothing brand, Best Made Co. The company has also developed another biomaterial using mushroom-based mycelium, an alternative leather product branded as Mylo, which was expected to be produced on a larger scale.&nbsp;
 
 
 In September 2021, Bolt Threads announced its plans to produce Mylo on a commercial scale by the end of 2022 and expected to collaborate with mushroom farmers to heighten its mycelium crops. Though the company reported 
 <a href="https://sp-edge.com/updates/19867">
 halting production of Mylo
 </a>
 in June 2023 due to inflationary pressure and lack of funding, in October 2023, the company announced entering a 
 <a href="https://sp-edge.com/updates/22431">
 SPAC deal
 </a>
 to go public on the Nasdaq.&nbsp;
 
 
 For its Microsilk product, Bolt had a production capacity of 32,000 sq ft per annum as of 2018. Since Microsilk remains significantly more expensive than traditional silk, the founders were seeking ways to scale up.&nbsp;
 
 
 Key customers and partnerships
 
 
 For its Microsilk product, Bolt Threads launched its first collaboration in 2017 with fashion designer Stella McCartney and introduced its second prototype in the form of a biodegradable tennis dress.
 &nbsp;
 
 
 The leather alternative Mylo has been used in collaborations with Stella McCartney, Seattle-based leather bag manufacturer Chester Wallace, and Canadian athletic apparel retailer Lululemon. In October 2020, the Mylo Consortium was also formed including Adidas, Stella McCartney, Kering, and Lululemon, who collectively have made a seven-figure investment into Bolt Threads to produce Mylo. In return for their investments, these brands would have access to a large supply of the product.&nbsp;
 
 
 Stella McCartney has been experimenting with Mylo to create clothing prototypes with plans to use the material in upcoming collections. Adidas used Mylo to produce high-performance footwear for the first time in April 2021 by making a vegan version of its &ldquo;Stan Smith&rdquo; sneaker design that dates back to 1965 and had plans to expand the use of Mylo material in its other products including handbags, wallets, shoes, jackets. In February 2022, 
 <a href="https://sp-edge.com/updates/8404">
 Lululemon
 </a>
 launched a Mylo-based yoga bag collection, which included a multipurpose yoga bag and a storage bag for workout gear. Mylo was also used by Danish luxury brand Ganni for the launch of its limited edition Mylo-based wallet range and one-of-a-kind saddle-bags in June 2022. Ganni&rsquo;s partnership with Bolt Threads included plans to release more Mylo-based products in Q1 2023. With growing demand for its Mylo product, 
 <a href="https://sp-edge.com/updates/8884">
 in February 2022, 
 </a>
 the company partnered with Mycelium Materials Europe (MME) for the commercial production of Mylo but had not been able to materialize its plans.
 
 
 Funding and financials
 
 
 The company&rsquo;s last funding round was a USD 123 million Series D in January 2018 led by Baillie Gifford. The funds were used to commercialize the company&rsquo;s Microsilk&nbsp;products.
 
 
 
</div>

Bolt Threads

MycoWorks is a manufacturer of alternative leather using mushroom-based fungi. Its proprietary brand, Reishi, is manufactured using a patented process called “Fine Mycelium”, which uses fungi’s capacity to bind to itself and carbon-based materials in producing durable three-dimensional material. The benefits of Reishi, according to MycoWorks, include its tensile strength (the force needed to pull material to its breaking point) at 10 Megapascals (MPa), compared to the average cowhide tensile strength of 8.5 MPa. Reishi is also customizable (in terms of sizing and specifications) allowing growing direct-to-design products that eliminate waste from cutting and trimming.Mycoworks operates three Reishi plants as of January 2022. The third plant in California has an annual production capacity of 80,000 sq ft of material per year, increased the company’s production tenfold, and reportedly reached a milestone of producing 10,000 trays of Fine Mycelium after a year of operation. The company is also building a new USD 107 million worth manufacturing facility in Union, South Carolina, with operations expected to commence in 2023. The new facility reportedly is expected to produce several million sq ft of Fine Mycelium per year. In August 2023, the company announced opening a <a href="https://sp-edge.com/updates/20757">136,000 square foot plant </a>&nbsp;which will produce Reishi that has been embraced by luxury brands like Hermès and Ligne Roset for various applications and was expected to begin operation on September 20, 2023.Reishi remains in the prototype development and testing phase. The company announced that the material is currently being tested in clothing, shoe, wallet, and handbag design. Key customers and partnershipsThe company indicated in November 2020 that the first luxury fashion and footwear products containing Reishi will be launched in partnership with leading fashion and footwear brands in the coming months. MycoWorks also partnered with Hermès, the French luxury goods manufacturer, in March 2021 to use a material named “Sylvania”(a Fine Mycelium-based material developed by the two companies over three years) in a sustainable version of Hermès’s “Victoria” travel bag, by the end of 2021. In <a href="https://sp-edge.com/updates/24584">November 2023</a>, the company partnered with YUME YUME for interactive Reishi-based installation at Stedelijk Museum. Funding and financials<a href="https://sp-edge.com/updates/7804">In January 2022</a>, MycoWorks raised USD 125 million in a Series C funding round led by Prime Movers Lab. The funding was expected to accelerate commercial production of Reishi and support in R&amp;D, technology development, and hiring new employees.

MycoWorks

Checkerspot is a manufacturer of microalgae-based performance materials which are used to produce consumer products, including skis and surfboards. The company modifies microalgae’s genes to derive new molecular building blocks and then bioengineers production of consumer products. Microbes are optimized to biomanufacture unique, natural structural oils that were previously not accessible on a viable, commercial scale. The company’s primary focus is on high-performance polyurethanes and coatings made from bio-based oil via fabrication.The company’s commercialized products include Algal Core (a light-weight urethane-based composite) and Algal Wall (cast urethane), both products are offered under the WNDR Alpine brand while algal oil is sold under the miDori bioWick. In February 2021, WNDR Alpine, Checkerspot’s outdoor brand, received the B Corp Certification, private certification granted to for-profit companies by the B Lab, a global non-profit organization formed to support the movement of using businesses as a force for good. Key customers and partnershipsThe company has partnered with Beyond Surface Technologies (BST) to commercialize miDori BioWick, an algal oil used in BST’s wicking textile finish. As of August 2020, the company’s co-development partners also included W.L. Gore and DIC Corporation.Funding and financialsIn its latest funding round in <a href="https://sp-edge.com/updates/16362">February 2023, </a>Checkerspot raised USD 55 million in Series C funding led by ArrowMark Partners to accelerate the development and commercialization of biobased alternatives for everyday products and expand into markets, such as industrial applications, personal care, and food and nutrition.

Checkerspot

Mi Terro converts milk waste into sustainable yarn, using a self-developed technology known as Pro-Act that extracts casein protein molecules from milk. The protein is purified and undergoes a dynamic flow shear spinning process, converting the casein to sustainable fiber. The resulting yarn is claimed to be three times softer than cotton and has applications in textiles, food packaging, bedding, personal care, and medical sectors. Mi Terro has also developed a limited-release ocean-waste duffle bag. Key customers and partnershipsThe company has partnered with Nike, Danone, Toyoshima, DFA, Mitsubishi, Lair East Labs, Dole, Budweiser, and Harada. In <a href="https://sp-edge.com/updates/23179">October 2023</a>, the company partnered with Lipton to develop dissolvable tea pods. Funding and financialsThe company completed two rounds of funding in 2020, raising USD 100,000 in January 2020 and USD 50,000 in March 2020. In January 2021, the company also won the Meda Million Dollar Challenge and received a USD 300,000 prize. In March 2022, the company raised USD 1.5 million in a Seed round led by Astanor to scale up production.

Mi Terro

Modern Meadow develops collagen-based materials from plant proteins, using a range of biofabrication processes including the creation of bio alloys, solution dyeing, protein design, and fermentation. The focus of the company is on the luxury branded market with its fully biodegradable proprietary brand, “ZOA”. Modern Meadow also reports that it is developing “Bioleather1 (BL1)”, an alternative to chrome tanned bovine leather made using its proprietary BioAlloy process. According to research published by the company in <a href="https://sp-edge.com/updates/8431">February 2022 </a>, BL1 reduces greenhouse gas emissions by 80% and 20% compared to traditional and synthetic leather respectively. It also reduces water consumption from groundwater sources, land use, and the subsequent degradation of water bodies during the process by 95% compared to conventional leather production.In April 2020, Modern Meadow announced plans to commence commercial production later that year and was actively looking for manufacturing partners. As of the same date, Modern Meadow employed between 70-90 staff at its 72,000 sq ft factory in New Jersey.Key customers and partnershipsModern Meadow announced a partnership with Evonik in March 2018, to develop and scale-up the commercial production of fermentation-based products.In April 2021, the company reported that it would announce collaborations with fashion brands and industry partners during the following six to nine months. In <a href="https://sp-edge.com/updates/15657">January 2023 </a>, Modern Meadow partnered with Taiwan-based sustainable fabric company, Singtex to develop biomaterials for various applications, beginning with a sustainable, waterproof, membrane-based material for the outdoor apparel market. In <a href="https://sp-edge.com/updates/16786">February 2023 </a>, the company partnered with US luxury brand, Tory Burch, to launch Tory Burch’s first plant-based leather alternative tote, the Ella Bio, powered by Modern Meadow technology, Bio-Alloy.In June 2023, it also formed a strategic partnership with <a href="https://sp-edge.com/updates/19178">Navis TubeTex </a>, a provider of textile machinery, to develop a sustainable textile manufacturing process. During the same month, it also formed a strategic partnership with <a href="https://sp-edge.com/updates/19868">BASF </a>to create an animal-free material called Bio-VERA that replicates the look, feel, and aging properties of traditional leather, suede, or chamois.In <a href="https://sp-edge.com/updates/30500">June 2024</a>, the company partnered with Earthletica to unveil the Bronte Jacket which used Bio-Alloy Shield technology.Funding and financialsIn April 2021, the company raised USD 130 million in a Series C funding round led by Key Partners Capital to (i) develop the company's biofabrication technology, used in creating an alternative to fossil-fuel-based textile coatings; and (ii) scale-up and commercialize its collagen-based leather material.

Modern Meadow

Developers of materials with applications across apparel, automobile, home goods, etc.

Developers of non-leather material alternatives such as wool, silk, and viscose—mostly for apparel

Developers of alternatives to plastic and other materials used in packaging

Reuses waste to create bio-based materials

Sustainable alternatives to materials like animal leather, silk, plastic

ANALYST_QUICK_TAKE

<div>
 Bcomp, a Swiss company specializing in natural fiber solutions, has successfully raised USD 40 million during its Series C funding round. EGS Beteiligungen AG led the round, with valuable contributions from Verve Ventures, Zürcher Kantonalbank, and RKKVC. Furthermore, previous investors such as Generali, Airbus Ventures, BMW i Ventures, Porsche Ventures, and Volvo Cars Tech Fund reinstated their trust in Bcomp by participating in this latest funding round.
 The raised capital will primarily be used to boost Bcomp's production capacity. The move comes in response to a significant increase in demand for their natural fiber composite-based products in the automotive industry. In addition, the funds will also be allocated to facilitate Bcomp's expansion into promising new markets in Asia and North America.
 
</div> Analyst QuickTake: 
 The company previously secured ~USD 35 million in Series B funding in <a href="https: 
//sp-edge.com/updates/9613"> April 2022 </a> to expand operations and strengthen its commercial footprint, and was backed by leading players in the mobility space, including BMW, Volvo, Porsche, and Airbus.

Bcomp

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