Strong by Form’s seed funding round closes, ranking among the top deals in Chile for Q4 2023

Pioneering Sustainable Construction with Wood-Based Biocomposites

In a groundbreaking move towards sustainable construction, Strong by Form has secured $5.2 million in its recent Seed funding round. CMCP Ventures, the venture capital arm of CMPC, led the investment, joined by CiRio Ventures, Teampact.ventures, French VC MAIF Avenir, VX Ventures, Climate Insiders, COREangels Climate, and YAKU PARTNERS.

Achieving Milestones Beyond Borders

Despite its European base, Strong by Form proudly announced the closure of the third-largest deal in Chile during Q4, a testament to its global impact. This accomplishment has the potential to become the largest pre-revenue round ever raised in Chile, outside the pharmaceutical sector, as reported by CB Insights.

Future Plans: Robotics, International Expansion, and Strategic Partnerships

Andrés Mitnik, CEO of Strong by Form, shared the company’s ambitious plans for the future. “We aim to establish the first robotic Woodflow Core plant in Europe.” Currently, the team is developing the industrial version of their robotic cell, backed by funding from CORFO, the Chilean Economic Development Agency, for collaborative efforts with Fraunhofer in Germany. The journey continues with plans to launch the first product in Spain in April, in collaboration with investor Financiera Maderera S.A. Furthermore, June will see the execution of pilots with industry giants like Deutsche Bahn and BMW Group.

For a comprehensive look into Strong by Form’s closed seed round and their visionary future plans, dive into the detailed article published by Sofía Neumann Olavarría in Startups Latam: Link to the Article