Greenerwave, a European leader in electromagnetic wave control technologies, announced the closing of a €15 million fundraising from the Defence Innovation Fund, underwritten by the Defence Innovation Agency and managed by Bpifrance, Safran Corporate Ventures, Intelsat, BNP Paribas Développement and Plastic Omnium.
The French deeptech, a spin-off from the Institut Langevin, an academic laboratory under the auspices of ESPCI Paris and CNRS, developed a breakthrough technology using reconfigurable intelligent surfaces (RIS) and algorithms to direct signal-carrying waves more effectively in real-time. Better performing, less energy intensive and requiring fewer semiconductors than conventional antennas, Greenerwave’s technology directly addresses the crucial need to decarbonize the digital sector.
This fundraising will enable the startup to accelerate the development of a technology set to profoundly transform numerous sectors in France and internationally: defense, space, automotive and telecommunications.
The need for connectivity anytime, anywhere, is growing strongly, and critical decisions by companies, governments and organizations (military and non-governmental) are reliant on networks whose slightest interruption can cause security, financial and organizational damage.
Greenerwave designs metasurfaces comprising elements that “shape” electromagnetic, enabling directional beams to be generated and controlled. These metasurfaces consist of a group of elements of centimetric size called pixels that act as micromirrors. Each pixel can modify the sign of the reflected wave. The interactions between pixels and microwaves are managed by algorithms derived from the world of physics that direct waves after they reflect on the surface. Passive, low cost and easy to manufacture, this technology aims to improve the use of electromagnetic waves while drastically reducing the antennae energy consumption and production costs. It optimizes the transmission and quality of wireless signals in three major areas: telecoms and terrestrial and non-terrestrial connectivity (satellites), radar imagery and the Internet of Things (IoT).
“With its deep roots in fundamental scientific research, our breakthrough technology will fuel innovation in several sectors, such as connectivity, autonomous vehicles, aerospace or defense,” said Geoffroy Lerosey, co-founder and CEO of Greenerwave.
A symbol of fundamental research capable of driving entrepreneurial projects, Greenerwave has developed a cutting-edge technology entirely designed and produced in France. This success has led to a first product (available to pre-order at the end of 2024): a flat antenna with electronic reconfiguration designed for the satellite communications market. More competitive and durable than existing satcom terminals, the antenna based on Greenerwave’s RIS makes it possible to democratise satellite communications for new constellations or on-the-move applications, by being more economical, lighter and less energy-consuming. Moreover, its technology uses fewer materials and therefore fewer natural resources, actively contributing to technological and industrial sovereignty by reducing dependence on semiconductors.
This €15 million Series A fundraising follows an initial fundraising of up to €1 million from the CNRS and business angels such as Xavier Niel in 2016. Today, new investors, including major industrials, are continuing to finance Greenerwave, including the Defence Innovation Fund, managed by Bpifrance, Safran Corporate Ventures, Intelsat, BNP Paribas Développement and Plastic Omnium.
Thanks to this fundraising and its investors’ market expertise and knowledge, Greenerwave intends to accelerate its growth and fulfil its ambition: become a world leader in energy-efficient connectivity. This will notably result in a strengthening of the workforce, currently made up of 85 employees, including 50 engineers, through the development of a sales force and an enlarging of the product range to meet the market’s exponential expectations and needs.
“We are proud to support Greenerwave in this adventure,” commented Muriel Prudent, Investment Director at Bpifrance. “The technology’s defence applications are up-and-coming, as are those in a number of civilian sectors – as demonstrated by the presence of manufacturers alongside us. If we add to this the environmental promise of significantly reduced energy consumption, the project led by Greenerwave fully meets the challenges supported by the Defence Innovation Fund and Bpifrance”.
“By investing in Greenerwave, we have chosen a disruptive technology with the aim of creating the next communications terminal for commercial aircraft. We are convinced that the Greenerwave solution will democratize satellite communications for new constellations by providing a multi-constellation and economically competitive solution,” added Sébastien Weber, President of Safran Aerosystems and President of Safran Passenger Innovations.
