Cyltronic concludes financing round May 6, 2022
Winterthur, May 06, 2022 —Cyltronic AG is on course for success: The Winterthur-based industrial start-up has already completed the second financing round within just ten months. Cyltronic has set itself the goal of bringing a breath of fresh air to the industrial world of drive technology with its globally unique electric cylinder. The completed financing round of CHF 1,185 million now secures market entry in the DACH-I region.
Cyltronic allows electric cylinders to be operated easily and saves 90% energy. In the past year, the start-up has already raised one million francs and thus successfully completed the pilot phase with end customers. With the new financing round, Cyltronic is now planning to expand its activities in the DACH-I region: As a first step, the existing distributor network will be expanded and key accounts will be established in the field of mechanical engineering.
Cyltronic is pleased to move forward with three new investors: Lead investor Domenico Mollo from DPM AG and two other new investors took part in the financing round. The lead investor, Domenico Mollo from Baltec AG (subsidiary of DPM AG), is also joining the Board of Directors. The team also welcomes three new employees. “As CEO, I am delighted that our electric cylinder is being well received on the market and by investors. We were able to attract well-known customers, such as STIHL, COOP, M‑Industrie and Ricola, to our electric cylinder. I am pleased to take a big step forward with the money raised and to conquer the DACH-I market with full enthusiasm and an expanded team,” says Cyltronic CEO Jeremias Wehrli.
An all-in-one solution that contributes to achieving the 2050 climate target
Linear movements are carried out in every industrial machine — for example when packaging food. Currently, these movements are carried out using pneumatic cylinders (also known as compressed air cylinders). When movement becomes more complex, servo drives are used (current and voltage are used to drive a servomotor).
Pneumatic cylinders or servo drives that have been used so far require a great deal of installation, are complicated to operate and cause enormous energy costs for the end user. Cyltronic is now launching an all-in-one solution that is easy to install and operate. Thanks to savings of up to 90% of energy costs, Cyltronic AG, with its electric cylinder, supports companies in implementing measures to achieve the 2050 climate target.
“Thanks to our unique drive solution, we enable production companies to make their production processes more precise and efficient. By saving energy costs for food producers, for example, our innovative electric cylinder enables them to produce more sustainably without completely changing the production process,” says Wehrli.
About Cyltronic
The idea for the Cyltronic cylinder was born in 2017. Founder Jeremias Wehrli and two former fellow students have decided to develop an electric cylinder that will allow industry to get away from inefficient and expensive compressed air.
Cyltronic AG was founded in October 2020. Following a first round of financing in 2021, Cyltronic has already implemented several pilot projects with well-known customers. The steadily growing team is planning a successful market launch for the current year 2022.
