Actualités

Neosens closes funding round of 2.5M€

Publiée le 25/02/2008

Toulouse, France I February 25th , 2008 - Neosens, a company specialized in microelectronics based sensor technology used to monitor fouling and dissolved oxygen in industrial processes, announces the closing of 2.5M€ in capital funding. The group of investors, led by SOFINNOVA Partners, includes the Belgian fund, Capricorn Cleantech Fund and GALIA Gestion, and the original investors, ICSO Private Equity and IRDI.

Neosens was founded in 2001 in Toulouse, France by Laurent Auret after conducting a successful trial on the use of MEMS (Micro-Electro-Mechanical Systems) for sensor applications at the ELTA - AREVA Group in partnership with the LAAS-CNRS (Laboratoire d’Analyse et d’Architecture des Systèmes). Since then, Neosens has acquired a unique technology from INRA for the measurement of biofilm to further strengthen its product line. Today, based on its expertise in electro-chemistry and microelectronics, Neosens develops and markets a range of innovative sensor solutions based on MEMS technology. The products include, among others, in-situ sensors used to measure dissolved oxygen levels in real-time, and sensors that continuously monitor biofilm and scale formation in heat exchangers and process piping. Neosens, a pioneer in its field, offers a new generation of solutions that enable the continuous monitoring of water quality for industrial applications such as cooling systems, pulp & paper, food & beverage processi g, and ultra-pure water.
“In the water industry, the monitoring of pollutants, such as micro-organisms and mineral deposits, is paramount. In addition, the consumption of chemicals needed to clean water systems must be reduced to limit the impact on the environment. Neosens has the answer to this problem by continuously monitoring the growth of biofilm and thereby measuring the efficiency of cleaning processes”, says Alessio Beverina, Principal at Sofinnova.

This round of funding will help Neosens finance both its development and marketing initiatives, and fuel the company’s growth. The initial objectives will be the expansion of the current line of sensors, the development of OEM integration activities, and the addition of new measurement techniques to its technology platform.
“We are very pleased to have won the trust of new investors, which led to the creation of a powerful and coherent consortium” says Laurent Auret. “The creation phase of the company is now achieved and complete, and today, we are focus on the worldwide sales development of our innovative products. Neosens has greatly benefited from the support and expertise of the Midi-Pyrénées Regional Incubator as early as 2001, as well as scientific and technological partnerships supported by the Midi-Pyrénées region and OSEO INNOVATION. We are also very grateful to our first industrial partners and customers who first recognized the unique value of our technology.”

Marc Lambrechts, Senior Investment Manager, Capricorn Venture Partners mentions “As a cleantech investor, we are delighted to join this company and complementary investment syndicate. Cleantech is about creating breakthroughs by combining technology and knowledge originating from different disciplines; Neosens is an excellent example of such a technology fusion platform, offering solutions applicable to multiple market segments.”

The ICSO Private Equity team and IRDI have renewed their confidence in Neosens after their initial investment through FAM (Midi-Pyrénées seed fund). “As one of the first investors in the company, we are very pleased with the development of Neosens since its creation. Neosens now has a unique technology that meets the needs of a booming market. We are also very pleased to welcome a group of major investors who will provide every means necessary to accelerate the company’s growth”, said Jean-Michel Petit, Investment Director at ICSO Private Equity.
For more information, visit www.neo-sens.com
Press relations: Isabelle Girard
Tel: +33 (0) 5 61 75 62 47 - isabelle.girard@neo-sens.com

About Sofinnova Partners
Founded in Paris in 1972, Sofinnova Partners is one of Europe's leading independent venture capital firms. With 900M€ under management, Sofinnova Partners invests in start-ups and early-stage companies in technology and life sciences. Its investment strategy consists of investing early in teams and projects with high potential, most often acting as lead or co-lead investor. Sofinnova Partners also benefits from a longestablished relationship with its sister company in San Francisco, Sofinnova Ventures. Sofinnova Partners’ teams bring valuable market insight and technical expertise to portfolio companies.

About Capricorn Cleantech Fund
Capricorn Cleantech Fund is an early to mid-stage venture capital fund managed by Capricorn Venture Partners. The fund invests in European growth companies developing innovative breakthrough technologies in the field of e.g. renewable energy and energy efficiency, water purification and re-use, bio-based material conversion and biorefinery platforms, clean air, climate change, green chemistry and advanced materials, materials recovery and recycling. Capricorn Venture Partners NV, established in 1993, is a Leuven, Belgium based, independent manager of venture capital funds that focus on European companies with innovative technology as competitive advantage. The investment team of Capricorn is composed of experienced investment managers with deep technology expertise and a broad industrial experience.
For more information: www.capricorn.be

About ICSO Private Equity
ICSO Private Equity manages private equity funds (FCPR and FIP) dealing with venture capital, LBO and Growth capital. The 18-people team is member of the economic interest group IRDI and has been performing for 26 years. Based in Toulouse and Bordeaux, ICSO Private Equity is the largest French independent regional actor. The company manages approximately 200M€ in assets, and invests from 0.5 to 10M€ in projects primarily in the West and South of France and in the North of Spain.
For more information: www.icso.fr
Contact: ICSO Private Equity (Jean-Michel Petit +33 (0)5 34 41 74 08)
Press: Sylvie Ives (+33 (0)6 84 14 11 15 - sylvie.ives@comm-in.fr)

About Galia Gestion
Galia Gestion is a regional venture capital company based in Bordeaux, managing FCPR and FIP, and mainly active in the South-West of France. Its main shareholder is the Caisse d’Epargne Aquitaine Poitou-Charentes. The company manages 63M€ of assets and invests amounts of 0.2 to 2.5M€ in creation, development or acquisition projects.
For more information: www.galia-gestion.com

SOFINNOVA PARTNERS Jean Schmitt | Alessio Beverina
CAPRICORN VENTURE PARTNERS Marc Lambrechts
ICSO P.E./IRDI Jean-Michel Petit | Pantxika Passicot
GALIA GESTION Yves Bardinet
■ Legal Consulting Sébastien Burget (Stratene Avocats)
■ Legal Investment Consulting Olivier Edwards | Anne Kerneur (Jones Day)
■ IP Audit Maxime Petit (Santarelli)
■ Financial Auditing Jean Pendanx (Attest Conseil)