Kiilto Ventures, Caixa Capital and Bionova Capital invest in bio-decontamination company Delox.
Bio-decontamination startup Delox secured € 750,000 of funding through a seed capital round of € 450,000 to which € 300,000 of public funding were added. This funding will finance the required steps to initiate product commercialization and bring total capital raised by Delox since inception to over € 1.3 million. This investment round was led by Finnish corporate VC Kiilto Ventures, together with Delox current Portugal-based investors Caixa Capital and Bionova Capital, in addition to a private investor.
“Delox was a great fit to our portfolio as a science-backed startup with patented and tested technology. Delox has a big market and development potential in the foreseeable future. We are looking forward to work with Delox team for the global market entry with a paradigm shifting technology”, said Ville Solja, CBDO in Kiilto Ventures, a corporate venture capitalist actively investing in early-stage companies in the outer horizons of their existing business areas like professional hygiene. Regarding the investment, Fernando Antunes, CTO of Delox, stated: “The continuing support of current stakeholders together with new investors that bring a secular knowledge on professional hygiene represents a strong validation of Delox business potential”.
Delox is a spin-off from the Faculty of Sciences of the University of Lisbon that developed a bio-decontamination technology based on hydrogen peroxide, able to eliminate 99.9999 % of all microorganisms, which includes SARS-CoV-2 virus. Delox breakthrough technology was recipient of several national and international prizes, last of which, the Born from Knowledge Prize that was attributed to Delox in 2020 by the Portuguese National Innovation Agency for being a project that emerged from disruptive scientific knowledge.
“We are launching this new product to fulfill an unmet market need for an efficient, compact and cost-effective system for bio-decontamination of laboratory equipment. We have already performed several pilot studies in facilities in the USA and Europe that validate the efficacy of our product and meet our potential customers’ needs. This new funding will also enable us to certify our products, while developing others that meet the requirements of additional clients in the healthcare and pharmaceutical industries”, said Fadhil Musa, CEO of Delox.
Founded in 2018, Delox previously received a pre-seed round from Caixa Capital and Bionova Capital, both of which now reinforce their investment and support to Delox. “Since we first invested in 2018, Delox has accomplished key developments to launch its breakthrough antimicrobial technology to the market. We have been working closely with Delox team since the first day and are delighted to continue supporting the company along its growth trajectory”, said Ricardo Perdigão Henriques, CEO of Bionova Capital, while Walter Palma, Investment Director at Caixa Capital stated: “We see Delox leading the next generation of flexible, compact, and safe bio-decontamination devices and Caixa Capital’s continued investment reinforces our commitment to that vision.”
Delox will use the funding for production, certification, and commercialization of the bio-decontamination device for laboratory equipment, a goal set for the last quarter of 2022. Furthermore, Delox will widen its portfolio of products, by developing other versions of the bio-decontamination devices, for market applications in Health, Pharma, and Food & Beverage Industry.
Read the news piece in Portuguese in: https://www.dn.pt/dinheiro/startup-portuguesa-levanta-750-mil-euros-para-sistema-de-biodescontaminacao-14865084.html
Read the news piece in English in: https://econews.pt/2022/05/18/finnish-company-helps-delox-raising-e750000-in-a-new-funding-round/
