Phononic Vibes, a technology startup specializing in vibration and noise minimization closed a whopping round of 2.3 M€ from Eureka Ventures.
The earlier investment for Phononic was for 500K€ in January 2019 from Poli360. Poli360 is the technology division from 360 Capital. Pantecnic Spa also participated in this round of funding for Phononic Vibes.
Though Poli360 and Pantecnica SpA will continue to render vital foundation to Phononics, Eureka Fund I, a dedicated fund for promoting innovation from Italian tech and R&D centers in the advanced materials arena will be the new investor in the firm.
Luca D’Alessandro, CEO and co-founder of Phononic Vibes quoted, “We are proud to welcome among our shareholders Eureka!, a venture capital fund with deep know-how in tech transfer. In this challenging time, this investment allows us to continue our growth and work together with our national and international clients, which already proved to believe in our company and in our advanced technological solutions. I would also thank our team and advisors who played an important role in achieving this milestone.”
Luca exhibited optimism in the Italian Deeptech ecosystem and felt proud to be an active player in the scene.
Founded in 2018, Phononic Vibes was originated as a Politecnico di Milano spin-off from a group of like-minded researchers. Phononic Vibes wished to create new innovative business solutions sprouting out of the technical expertise of PoliMI and MIT, Boston in advanced materials.
Phononic Vibes will use its proprietary technology and current solutions to compete against the current players in the acoustic and vibration treatment market. Phononic Vibes is also contemplating the possibility of expanding its market horizons in segments where metamaterials showed high potential. Phononic Vibes has shown promising results in the automotive applications, appliances sector and in the building sector. Phononic Vibes is developing strategic partnerships with construction companies to reduce noise disturbances in construction sites.
Phononic Vibes will use the newly receive funds to expand its client base and expand the team which is currently at 11 members. “I am proud to see that the first investment of the Poli360 fund has already been able to attract the interest of new investors. Phononic Vibes is the example of how innovative companies can be created only with the proper match between professional and patient investors and talented young entrepreneurs. Poli360 will continue to support the best technological spin-offs of PoliMi and more generally of the country. “, quoted Cesare Maifredi, General Partner of 360 Capital.