DuraMon closes 1.6 million seed extension

(CONNECT) According to a press release, Dietikon-based DuraMon AG successfully completed a financing round of 1.6 million Swiss francs for the seed extension in February. The round was led by venture capital and private equity investor QBIT Capital in Zurich, which had already led DuraMon's seed financing round in June 2023. Sika in Baar, a key investor since June 2023, has extended its commitment by re-investing as a strategic partner alongside Helbling Equities and others, it added. The fresh capital creates the conditions for scaling and expansion beyond the DACH region.

DuraMon is a spin-off of the Swiss Federal Institute of Technology in Zurich (ETH) that specializes in a new type of sensor technology that ensures long-term stable corrosion monitoring of concrete infrastructures such as bridges, tunnels, multi-storey parking lots and parking garages. This enables the early detection and understanding of deterioration processes in concrete structures, according to the press release. This allows the right type of repair to be determined at the right time and in the right place in the structure, enabling building owners to optimize their maintenance strategies and reduce repair costs.

The newly secured funding will enable DuraMon to automate and optimize key internal processes, namely automated data analysis and sensor installation, according to the press release. There will also be a strong focus on customer development and expanding DuraMon's market reach beyond the DACH region into other European countries. ce/gba