Zurich – DuraMon has raised CHF 1 million in an early financing round. The fresh capital is intended to accelerate the market entry of the spin-off from the Swiss Federal Institute of Technology Zurich and support the growth phase.
Zurich-based DuraMon AG has received CHF 1 million in a seed financing round. The investment was led by Zurich-based venture capital firm QBIT Capital. In addition to Serpentine Ventures, the ETH Foundation and other investors, the Zug-based building materials group Sika also participated as a strategic investor, according to a media release.
Accordingly, the funds raised will be used in particular to expand the team, broaden the customer portfolio and optimize and automate the company’s processes.
DuraMon develops the world’s first sensor technology and smart analytics solution for precise and reliable monitoring of the corrosion condition of reinforced and prestressed concrete. These solutions enable timely detection of deterioration in concrete infrastructures such as bridges, tunnels, parking garages and garages.
DuraMon helps customers “choose the right type of repair for the right structure at the right time.” As a result, reinforced and prestressed concrete infrastructures are repaired neither too early nor too late, according to the promise.
The strategic partnership with global player Sika “allows us to serve our customers in the construction industry with comprehensive technology that enables sustainability through the rational use of construction materials and the proper maintenance of infrastructures and building structures,” Philippe Jost, head of construction and member of Sika’s executive committee, is quoted as saying in the media release.
The spin-off of the Swiss Federal Institute of Technology Zurich(ETH) was founded in 2021 and transformed from DuraMon GmbH into DuraMon AG in April of this year. ce/ko
