French fuel efficiency company SP3H has raised €2.5m from technology investor Truffle Capital, a longstanding backer of the company.
SP3H develops miniaturised optical sensors for fuel analysis that the company says can reduce emissions and fuel consumption as well as improving reliability. The capital will go towards testing new sensors, fund marketing and help structure strategic alliances within the petrochemical and aeronautic sectors.
SP3H’s founder and Chairman Alain Lunati said, “This round of fundraising will enable us to complete the last step in our corporate strategy … The recent pollution peaks in Paris and other cities and the WHO’s latest data on the impact of pollution on health demonstrate the relevance of our technology – providing a practical, inexpensive industrial solutions in a context of energy transition.”
Since its creation it has had three major fundraising rounds. Between 2007 and 2009 it raised €1.5m from private investors. In January 2010 Truffle Capital invested €2.5m in the company, and in May 2012 a group of investors including Truffle Capital invested €2.2m.
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