Multiwave attracts new funds

Founded in March 2015, Multiwave Technologies is basing its model on incubating its own portfolio of deep-tech innovations in partnership with researchers at leading universities across Europe. “When IP is mature and terms are defined, Multiwave Technologies AG spins-out new entities to tackle selected verticals” says Tryfon Antonakakis, co-founder & CEO of the Group. To date, the Group has raised CHF 4.5M from angel investors and a further CHF 7.2M in nondilutive capital to finance the growth of its subsidiaries.

Multiwave Technologies has spun-out three wholly owned entities so far: Multiwave Imaging (France); Assimilate (Switzerland); Multiwave Metacrystal (Switzerland); and has many more innovations in its pipeline. “Our goal is to bridge the gap between deep tech and entrepreneurship, one vertical at a time” says Panos Antonakakis, co-founder & Chairman of Multiwave Technologies AG. 

Grant and commercial contract for Assimilate
Assimilate and its parent company, Multiwave Technologies AG, were recently awarded a CHF 800k EU grant to develop new generation sensors for energy harvesting through vibrations. The start-up that specializes in the development of sensors and predictive analytics for retail, supply chain and water 4.0 solutions, led by ex-Luxottica executive, Marc Poullain, has secured a commercial contract with leading eyewear retailer Alain Afflelou to digitize at least 20 Alain Afflelou physical stores and its entire supply chain. 

Acquisition of a Dutch company
Multiwave Metacrystal, the Group’s subsidiary led by ex-CERN veteran Paul Lecoq (40+ years at CERN & presently Head of Physics of the European Academy of Sciences), is developing scintillating crystals to reduce radioactive dosage in PET scanners. Multiwave Metacrystal just completed the acquisition of Dutch company SensYnc for an undisclosed amount. As part of the acquisition, SensYnc’s founder and CEO, Georgios Konstantinou, joined Multiwave Metacrystal as CTO. Multiwave Metacrystal just started its own fundraising of CHF 1M which it plans to close by end of the year. 

Support from BPI France
Multiwave Imaging recently raised CHF 3M in non-dilutive capital led by the French Public Investment arm’s deep tech arm (BPI France) and the European Union. Funds raised are used to develop the world’s first wireless and wearable MRI coil that will improve patient comfort, image quality and patient throughput in MRI. This round of non-dilutive capital is the foundation of a further CHF 3M dilutive round that the subsidiary plans to close by the end of the year.