Greek-founded iCOMAT Secures $22.5M Series A Funding to Revolutionize Advanced Composite Manufacturing


ChatGPTGreek-founded iCOMAT has concluded a successful $22.5 million Series A funding round led by @8vc and the NATO Innovation Fund. Specializing in advanced composite manufacturing, iCOMAT's innovative technology promises lighter, stronger, and more sustainable structures for aerospace and automotive vehicles.

Traditional manufacturing processes often fall short of meeting the rising demand for lighter, faster vehicles. iCOMAT's breakthrough technology, leveraging composite materials and carbon fibre, offers a solution. Unlike conventional methods, iCOMAT's production technology enables fibre steering, optimizing structure properties at every point. This results in weight reductions of up to 65% compared to existing solutions, with production rates boosted by 10x.

Dr Evangelos Zympeloudis, iCOMAT's founder and CEO, highlighted the significance of their Rapid Tow Shearing (RTS) process, which not only enhances structural efficiency but also unlocks fully automated production workflows similar to automotive stamping lines.

With over 25 clients spanning aerospace, automotive, and defence sectors, iCOMAT has already delivered demonstrator parts for demanding applications such as fighter aircraft panels and Formula 1 components. To meet growing demand, the company is constructing its first production factory in Gloucester, UK, equipped with state-of-the-art manufacturing facilities.

Investors like 8VC and the NATO Innovation Fund recognise the transformative potential of iCOMAT's technology in shaping the future of transportation and defence. As iCOMAT continues to revolutionize materials and manufacturing processes, it aims to build a resilient and sustainable future for industries from ground to sky to space.

No Comments Yet

Leave a Reply

Copyright Greekcitytimes 2024