Irlynx, French infrared sensors company, raises €2M Series A funding round led by Demeter Partners and Phitrust Impact Investors

IRLYNX, the CMOS-based infrared sensors company that innovates smart and connected detection sensors in buildings and cities, has announced it completed a €2 million Series A round of financing.

DEMETER PARTNERS and PHITRUST IMPACT INVESTORS led the investment round with participation from existing and new investors like FOREIS dotation fund, current shareholders and new business angels.

This investment will help IRLYNX accelerate and broaden product development, start the industrialization phase as well as expand its sales and marketing efforts.

Targeted at integrator and smart system and object manufacturers, IRLYNX’s first product is an innovative sensor able to detect human activity, like true human presence and absence, counting, localization, movement analysis. Development kits will be available from the end of 2015. This new generation of sensor will simplify and democratize human behavior perception allowing new functionalities and interactions in smart building and smart cities. Energy saving, assisted living, and security are the main applications that are today’s market drivers for such systems.

For Sébastien FABRE, IRLYNX CEO: “IRLYNX’s offering is well-timed with the increasing demand for solutions that can increase the level of information at an affordable price. This fundraising will accelerate our strategic plan, especially our time-to-market. We welcome DEMETER, PHITRUST and the others investors. For 18 months, we have been developing our savoir-faire and are recognized as experts in infrared sensors. Additionally supported by BPI France, we believe the company will continue to develop powerful infrared sensing solutions to fulfil new market requirements »

« Human activity characterization via non-intrusive sensors is key for smart building applications. There are many applications in energy saving or security as well as assisted living, all large and promising markets. We are excited to collaborate with IRLYNX and support the highly qualified and experienced team as they work to build a great company. IRLYNX is the 16th investment for the DEMETER 3 Seed Fund. » says Mathieu GOUDOT, Investment Director from DEMETER PARTNERS.

Jean Claude LEVEQUE, General Manager of PHITRUST IMPACT INVESTORS, continues « Technology innovations included in IRLYNX products are clearly in line with our investment guidelines in fields like assisted living and smart building. We believe these new technologies will answer many future social and environmental questions. IRLYNX illustrates our investment spirit: Investment that make sense. »

With this €2Million series A funding, IRLYNX will be able deliver to its customers its first development kits and new generation sensors at the end of this year.

About IRLYNX

IRLYNX designs and sells advanced human-activity sensing modules. Created in 2012 and based in Grenoble, the company offers interactive-product makers’ new capabilities to detect, understand and characterize human motion and behavior in the vicinity of its systems. Based on disruptive technology with thermal-vision capability, IRLYNX products are simpler, more reliable and price compatible with high-volume markets. This allows our customers to deliver new uses, new services and new experiences. The wide range of targeted applications includes energy saving, safety, security and assisted living in smart buildings.

Our product is an optoelectronic module that includes an infrared reactive matrix combined with optics and embedded processing that provide information on activities like presence, gravity center position, motion direction and the number of people in the field.

More on www.irlynx.com or twitter #Irlynx

About DEMETER PARTNERS

Demeter Partners is an independent management company specialized in the environment and renewable energy sectors. With currently more than 400 million Euros under management, Demeter Partners is dedicated to SMEs in the eco-industries and the eco-energy sectors primarily in France, Germany and Spain from the seed fund stage to LBO and infrastructure. The Demeter 3 Seed Fund is supported by the European Union via its Competitiveness and Innovation Framework Program and the National Seed Fund, managed by Bpifrance Investment in the framework of its Future Investment Program.

More on www.demeter-partners.com

About PHI TRUST IMPACT INVESTOR

For more than 20 years, PhiTrust Impact Investors has developed responsible investment strategies in listed and unlisted companies. PhiTrust Impact Investors is a leading French asset management company specializing in the management of venture capital funds dedicated exclusively to funding and support of unlisted companies, developing innovative products or services for a social benefit or for an environmental goal. Dedicated and target domains are health, education, and environmental considerations in buildings. PhiTrust Impact Investors manage a €25 Million portfolio today.

More on www.phitrustimpactinvestors.com

 

Source: Demeter Partners Press Release

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