Two fundraising in sight for WAINVAM-E

Two fundraising in sight for WAINVAM-E

Specialized in innovative metrology solutions at the nanoscale, WAINVAM-E is preparing two consecutive rounds of financing. “In the very short term, we are looking for €1.5 million. Our goal is to raise between €6 and €8 million by early 2023,” says Michel Feret, a doctor in artificial intelligence who co-founded WAINVAM-E in April 2020 alongside four partners with complementary profiles. These partners currently hold 88% of the deeptech’s capital. The rest is shared between employees (3%) and business angels (9%). Supported by Bpifrance and local authorities, WAINVAM-E has so far developed through innovation and entrepreneurship grants. The company also intends to apply to Bpifrance’s programs, as well as to the European EIC Accelerator program.

Recruitments

These two financial operations should enable WAINVAM-E to continue structuring its team, its commercial development and its R&D. Located in the Soye technology park in Ploemeur, the SME employs 34 people, up from 18 in the summer of 2021. Michel Feret expects to hire 5 to 8 people by the end of the year, in parallel with the fundraising. Until now, WAINVAM-E has been operating out of 350 square meters, but it has just taken on two additional 180 square meters of office space. The company already has a physics and optics laboratory, and has now set up a biology and chemistry laboratory. Overall, since its creation, WAINVAM-E has invested 800 k€ in its laboratories and 400 k€ in its IT infrastructure.

Several products

In the field of nanometric metrology, WAINVAM-E is developing sensors with special quantum and optical properties. Its technology exploits a defect in the crystal structure of diamonds coupled with mathematical modeling and algorithms. These sensors are intended to be integrated, in the more or less long term, into different products for various applications. The company was launched commercially in the fall of 2021. “We have made the choice to also sell to third parties the electronic board that we have developed for our range of magnetometers, the first model of which is due to be released next fall.” WAIMAG-ST will enable ultra-precise measurement of the variation of a magnetic field with in order to stabilize it. WAINVAM-E will first target fundamental research laboratories in atomic physics

Other magnetometers

The range will be completed by other magnetometers that will make it possible to characterize the wear or corrosion of a material for non-destructive testing purposes. “We will be able to detect corrosion in various complex environments such as nuclear power plants and oil wells. Michel Feret also mentions a contract with Safran for a magnetometer that can be used to inspect the nooks and crannies of a landing gear because of its size. WAINVAM-E is also working on an ultra-sensitive system that can detect targets of interest such as biomarkers by functionalizing nanodiamonds. A first nanodiamond with polyethylene glycol (PEG) was launched in early May, commercially targeting biology laboratories worldwide. The SME has also been offering a service to characterize the quantum quality of colored diamonds for the past month

Maureen LE MAO – “Le fil API” – JUNE 2022