Organoid receives funding from FSP Ventures
After sweeping the much-coveted Innovationspreis in Tyrol recently, Organoid Technologies has announced securing a round of funding from Vienna-based venture capital fund FSP Ventures. Although the amount of the financing remains undisclosed, the investor confirmed the share of the company they’ve acquired.
“While we’ve agreed to keep the sum confidential, we are now holding 20.8% of Organoid Technologies GmbH,” Ernst Ungersbäck, managing director of FSP Ventures, told inventures.eu. What attracted FSP in particular were apparently “the combination of their innovative panel design and an experienced management team, who have proven in the past that they are very much capable of successfully bringing new ideas to the market.”
FSP Ventures and Organoid together for sustainable growth
“Sustainable growth” seem to be the two key words that unite FSP Ventures and Organoid. The venture capital fund specialises exclusively in clean-tech companies aiming to achieve sustainability – both in the economic and ecological sense. Organoid, in turn, produces sound-absorbing panels from scrap wood and organic materials.
The investment decision was not a light one. “We are constantly on the lookout for high-potential startups,” said Ungersbäck. “However,our screening process has to be very rigorous, of one hundred companies we’ve assessed within the last 12 months, only three were backed by us”.
Thomas Bluth, head of investment management at innet, the investment network Tyrol, was the one who facilitated contact between FSP Ventures and Organoid. “I know Johannes Krahwinkler [of FSP] privately and when I heard what Organoid is working on, I knew FSP would be interested – I was at the first meeting and got them connected”. It seems this was a good call. Bluth maintains a steady portfolio of potential companies to invest in, connecting them to investors.
This recent investment will be a huge boost for the startup’s future efforts, Armin Gatterer, PR and Marketing manager at the Tyrolean startup, told inventures.eu.
Organoid seem to have things going – we can’t wait to see what’s next for them!
Interviews by Stefanie Rauchegger.
In partnership with CAST Tyrol