2024-03-25 21:22:56
A IBBXa 100% Brazilian startup born in Capivari (SP), completed the process of raising R$8 million non-refundable through an economic subsidy notice from FINEP, a public agency that finances and encourages innovation projects in the country. The initiative had the support from Atitude Inovação, a company participating in Indicator Capital’s Building Value Together® program – manager early-stage venture capital firm that invests in IBBX through its 2 IoT fund.
FINEP’s economic subsidy notices have specific eligibility criteria, in which IBBX met all requirements. For example, the innovation project that serves as a reference in the process includes a detailed description and a high level of innovation. The company highlights that it has the technical expertise to develop the project, as well as the conditions to manufacture and sell the products.
Indicator Capital and Atitude Inovação worked throughout the entire process, assisting IBBX in raising this resource. The manager was responsible for bringing the startup team and Atitude Inovação closer together, applying its value construction program Building Value Together®, in progress since the first contribution in June 2022. Atitude, a company that works with capturing resources and promotion of innovation, was responsible for the entire structuring of the project, organization of materials and application for the notice.
Eline Casasola, founder and CEO of Atitude, comments: “We started this project with IBBX almost a year ago, together with the startup’s development team. All the work was done together, with four hands. Including participating in events at FINEP to facilitate the process and understand the needs of the notice. The level of detail required very effective participation from both parties, which contributed greatly to our success.”
IBBX CFO, Bruno Rocha, reinforces the participation of partners during the application: “this is not a trivial process. You really need companies that understand the details, the steps. And, most importantly, they are able to put all the innovation and disruptive technology applied in a simple and clear language within the scope of the notice. In other words, translating this complexity in a way that the evaluator can understand. And this essential role was played with excellence by Attitude.”
For him, the Building Value Together® program is very important since, as an investor, Indicator Capital understands the startup’s pain points and has the ready and efficient connection network to help with the challenge. “It’s very different when we are inserted into a fund ecosystem. BVT helps find these experts and create the right environment to unlock the startups’ agenda. In our case, with the notice”, adds Rocha.
IBBX in full growth with disruptive technology
Combining disruptive technology that ‘captures energy lost in the air’ with the experience of its partners and technical team, IBBX obtained results such as, for example, a return on investment of 350% to 600% for its customers, maintaining availability in the plant at 100%.
The capture of energy from the environment is done in the form of low-frequency electromagnetic signals. This way, it is possible to connect, use and forget a connected sensor, an innovative concept called Plug, Play and Forget. O Energy Harvestingas it is called, allows the transmission of energy and data at high speed over long distances.
With its proprietary communication protocol, IBBX can transport data over long distances using low-frequency electromagnetic waves, ideal for industrial environments, characterized by high electromagnetic interference, large areas and low connectivity. As for energy, IBBX technology overcomes greater barriers, as the options available today are batteries, which need to be changed periodically.
About Indicator Capital
Founded in 2014, Indicator Capital is a Brazilian venture capital manager, with operations in São Paulo and Silicon Valley. The partnership formed by Derek Lundgren Bittar, Fabio Iunis de Paula and Thomas Lundgren Bittar promotes the convergence between the entrepreneur’s dream and the financial return for the investor, tropicalizing the best North American practices for national startups. With more than R$370 million under management, Indicator Capital is the largest early-stage venture capital manager in Latin America specializing in the Internet of Things (IoT) and deep tech. In their investments, its partners apply the proprietary Building Value Together® value construction methodology and act as “investors for good”, a concept reinforced by the B™ system company certification.
About IBBX
IBBX is a Brazilian startup focused on developing wireless energy technology. The company developed and filed patents for its proprietary technology solution, providing electrical energy from electromagnetic waves, capable of charging fixed and mobile devices, such as security cameras, smartphones, remote controls and IoT devices, including those used for industrial monitoring. Although there are other companies around the world working on this concept, IBBX technology stands out in power, reach and mobility.
Press information:
ADS Corporate Communication
Marcelo Domingues – tel. 11 9.9165-9076 / [email protected]
Meire Nery – tel. 11 9.9103-7527 / [email protected]
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