Bioo announces its successful new financing round. The young company led by Pablo Vidarte (Seville, 1996) has successfully obtained a new financing round. The round, which was aimed at developing and promoting the Spanish company’s next market launches, was led by Tensor Ventures, a Czech company that specializes in investments in start-ups focused on the latest scientific technology. Besides Tensor Ventures, companies such as the Spanish Archipelago Next and the fund Forex Street increased their shares, putting even more trust in Vidarte. The company Levels Up Ventures also joined this round.
To date, the company had secured around €9 million, of which €7 million came from European funds like the ones obtained thanks to the Horizon Europe programme, which provides subsidies to companies and R+D projects registered in Europe. This programme facilities collaboration and strengthens the impact of research and innovation in the development, support and implementation of EU policies whilst dealing with global challenges. The programme aims to provide support to create and to better disseminate knowledge and technologies of excellence.
As a result, Bioo is currently worth €10.5 million euros. The start-up, which was founded in 2015, is one of the most successful in Spain, with it being named by the European Parliament as the Europe’s most innovative company in 2018. Further to this, its founder and current CEO, Pablo Vidarte, is one of the few Spaniards to be included on Forbes’ exclusive 30 Under 30 Europe list.
Bioo, which since its inception has focused on obtaining electricity from nature, has patented biological switches, a technology that allows plants to be used as switches to activate light or sound. The plants are able to turn on devices thanks to the changes in frequency they detect when touched. With this technology, the company has created the first plant piano installed at the Ibiza Biotechnical Botanical which uses plants to active light and sound instead of using keys.
The company will launch its first fully European-manufactured and consumer-focused product in March: Bioo Lux, an innovative lamp of its kind that uses plants as biological switches. The product, which will also have a limited edition, brings together innovation, craftsmanship and sustainability.