The new funds will be used to build out Kastus’ global commercial team to meet growing demand for its anti-viral surface protection tech.
Kastus, an Irish company creating protective coatings that prevent the spread of viruses and bacteria, has raised €5.65m in a Series A round.
The company, founded in 2014, develops anti-microbial and anti-viral coatings for surfaces like touchscreens, glass and ceramics for heightened hygiene and to prevent cross-contamination.
The Series A round was led by Alpha Ascent Ventures with participation from Atlantic Bridge Capital, Carragh Holdings and Enterprise Ireland.
The Dublin-based company plans to use the new funds to build out its commercial team and expand into more global markets. It has staff in the UK, US, South Korea and China.
Last year, it signed a deal with PC maker Lenovo, which uses Kastus’ protective coatings on the screens of its devices. Other clients include Lavazza and Kone. Kastus currently has 44 patents granted or pending.
“We are seeing rapid acceleration in demand for our unique 24/7 surface coating technology, which is ISO proven to kill 99pc of harmful bacteria and viruses including human coronavirus,” chief executive John Browne said.
“Due to the uniqueness, versatility and mass-production readiness of our technology, we are attracting new business opportunities from global power-brands in sectors such as consumer electronics, mobile devices, touchscreen providers, home appliances, hospitality, travel and even food and beverage, to name a selection.”
Kastus was one of five Irish companies to receive European Commission funding to tackle the spread of coronavirus last year.
The company said it is well placed to take advantage of increased consumer awareness towards hygiene due to the pandemic.
“Since 2020, we have all experienced a traumatic wake-up call in the fight against infections,” Alpha Ascent’s Fergus Lynch, who sits on the company’s board, said.
“Having invested in Kastus two years ago, we are delighted to again partner with John and his team in their mission to make the world a safer place through their unique surface coating technology. In treating the current pandemic and looking to prevent the next one, we expect Kastus’ technology to be invaluable.”