Cyltronic capital increase 6. May 2022
Winterthur, May 6, 2022 -Cyltronic AG is on course for success: the Winterthur-based industrial startup has already closed its second financing round in 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 the market entry in the DACH-I region.
Cyltronic enables simple and direct handling of electric cylinders while saving 90% energy. Last year, the startup already raised one million Swiss francs, successfully completing the pilot phase with end customers. With the new round of financing, Cyltronic now plans to expand its operations in the DACH-I region: In a first step, the existing distributor network will be expanded and key accounts will be built up in the field of mechanical engineering.
Cyltronic is pleased to go the further way with three new investors: Lead investor Domenico Mollo from DPM AG and two other new investors participated in the financing round. The lead investor, Domenico Mollo of Baltec AG (subsidiary of DPM AG), additionally joins the Board of Directors. The team also welcomes three new employees. "As CEO, I am delighted that our electric cylinder appeals to the market as well as to investors. We were able to inspire well-known customers, such as STIHL, COOP, M Industrie and Ricola for our electric cylinder. I am looking forward to taking a big step forward with the money raised and to conquer the DACH-I market with full vigor and an expanded team," says Cyltronic CEO Jeremias Wehrli.
An all-in-one solution that contributes to the 2050 climate goal
In any industrial machine - packaging food, for example - linear movements are performed. Currently, these movements are performed with pneumatic cylinders (also called air cylinders). When the movement becomes more complex, servo drives are used (current and voltage is used to drive a servo motor).
Previously used pneumatic cylinders or servo drives mean high installation costs, 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 saving up to 90% of energy costs, Cyltronic with its electric cylinder supports companies in the implementation of measures to achieve the climate goal 2050.
"Thanks to our unique drive solution, we enable companies to make their production processes more precise and efficient. For example, by saving energy costs for food producers, our innovative electric cylinder also makes it possible 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, along with two former fellow students, decided to develop an electric cylinder that would allow the industry to move away from inefficient and expensive compressed air.
In October 2020, Cyltronic AG was founded. After an initial financing round 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.
