German start-up secures a multi-million dollar investment for plasma-based coating technology

IonKraft, a start-up based in Aachen, Germany, has closed a €3.5 million (US$3.7 million) first equity funding round to scale up the production and sales of IonKraft’s coating machines and drive a circular packaging economy. The round was co-led by M Ventures, the strategic investment arm of Merck, and TechVision Fund (TVF), with High-Tech Gründerfonds (HTGF) also participating.

IonKraft specializes in plasma-based barrier coatings and replacing non-recyclable solutions in packaging with recyclable alternatives. 

Benedikt Heuer, co-founder at IonKraft, says: “This financing round is a decisive step to support the market launch of our technology and to prepare for future scaling. We are thrilled to have a diverse group of investors who share our vision and will provide us with support on multiple levels.”

Björn Lang, partner at TVF Management, comments: “IonKraft delivers a market-ready coating technology that can easily be integrated into existing production lines. The company holds a huge lever to enable circularity, starting in a sector outside the mainstream focus.”

Nils Lang, investment manager at HTGF, adds: “We are excited to support IonKraft in its market roll-out and expansion. Its solution addresses a strong market demand and aligns with the current momentum of change. With an excellent team and an outstanding track record, we are confident IonKraft is well-prepared for any challenges that may lie ahead.”

Chemically resistant and recyclable

IonKraft’s technology offers a chemically resistant and fully recyclable alternative that matches the barrier properties of glass. This makes it suitable for sensitive products like food and cosmetics. 

The company has also developed machine technology, allowing it to apply its coatings to various types of containers. According to IonKraft, the technology could replace non-recyclable multilayer or fluorinated PFAS packaging that cannot be recycled.

IonKraft plans to launch its first products by 2025 and deploy its first industrial coating system by year-end 2024. The company was previously supported by the European EIC Accelerator and BMWK’s EXIST research programme.

Dr. Montgomery Jaritz and Benedikt Heuer founded the start-up at RWTH Aachen University in 2021.