Karostech’s customer HyperMemo Oy successfully attracted EIC funding in the last cut-off, which was exceptionally competitive with just 2.4% success rate. The funding was issued through the blended finance scheme and includes a €2.1 million grant part, which is already confirmed, and an additional equity part, which is currently under negotiation with the European Investment Bank.
HyperMemo is a Finnish SME developing innovative laser based glass processing technology. The solution will disrupt the very traditional branch of industry making it cleaner and more sustainable. EIC funding will help HyperMemo to industrialize the technology, setup production facilities, and run trials with leading global glass and glass processing equipment manufacturers.
We in Karostech are proud to be supporting the commercialization of such an impactful innovation.