Plural invested in Dutch VSParticle
Plural, founded by Estonian entrepreneurs Sten Tamkivi (founder of software company Teleport and former Skype executive) and Taavet Hinrikus (founder of money transfer service Wise), led a series-A round of Dutch VSParticle. A €14,5M was also backed by Berlin-based BlueYard Capital and other investors.
VSParticle was founded in Delft (Netherlands) in 2014 by Aaike van Vugt. It is a spin-off of Delft University of Technology. VSParticle (VSP) has developed a device VSP-G1 Nanoparticle Generator that can split materials at the atomic level in just a few minutes. The device uses spark ablation technology - a physics-based process, generating pure particles in a very controlled setting, without the use of chemicals. Thanks to this technology, materials can be broken down to the size of nanoparticles and produced at the touch of a button, enabling researchers around the world to create new materials. The VSP’s device allows the printing of new materials consisting of any combination of 64 different elements from the periodic table. The company claims that with the help of its technology, it can reduce the total time of material discovery from fifteen years to one year.
The company is currently focusing on the production of so-called Catalyst Coated Membranes (CCMs). These membranes are the key component in electrolyzers, a technology essential for the production of green hydrogen, which is used to decarbonize industries such as shipping, produce renewable electricity for transportation and heating, and enable the conversion of carbon dioxide into valuable chemicals, such as sustainable aviation fuels. With the help of membranes, VSP can develop materials that would reduce the number of rare metals, for example, iridium, which is used in hydrogen production. And in the future, it will focus on developing its technology to accelerate the production of new gas sensors that could detect air pollution and early signs of illness, such as cancer, from human breath.
VSParticle will use the investment to scale up the production of VSPs devices and services and grow the operational and commercial teams.
Plural Platform is a €250 million early-stage venture fund started by Sten Tamkivi (founder of software company Teleport, acquired by Topia), Taavet Hinrikus (money transfer service Wise founder), Ian Hogarth, and Khaled Helioui in 2022. It focuses on leading early-stage rounds between €1 and €10M. In 2023, it invested in British leg tech Robin AI, London-based AI technology Unitary, which moderates harmful content online, Danish healthtech Teton, and US asset-backed secured credit card Pesto.
