French industrial start-up Ayro has completed a €10.5 million funding round with participation from Blueprint Partners, Ocean Zero, Bpifrance, and Mer Invest. Transaction Services - 2CFinance conducted the financial due diligence of Ayro.
Ayro, founded in 2018 by Marc Van Peteghern and Nicolas Sdezafin, develops and markets Oceanwings, a hybrid wind propulsion technology for maritime transport and yachting. The technology is designed to reduce fuel consumption by up to 45%.
The funding will be used to accelerate the commercialization of the Oceanwings propulsion system. It will also be used to strengthen the sales and marketing teams and to establish an assembly plant in a port area in the Calvados region.
Blueprint Partners is a private equity firm that invests primarily in the healthcare, life sciences, and technology sectors. Ocean Zero is an American energy company that provides solutions to reduce carbon emissions. Bpifrance is a French investment bank that supports companies' growth, and Mer Invest is a subsidiary of Banque Populaire, which offers financing solutions for companies in the maritime sector.
This funding round represents a significant milestone for Ayro and its efforts to revolutionize the maritime industry by reducing its carbon footprint. The Oceanwings technology has the potential to significantly reduce greenhouse gas emissions and help the industry transition to a more sustainable future.