Dracula Technologies, a French pioneer in battery-free Internet of Things (IoT) solutions powered by ambient light, announced the completion of its €30 million Series A funding round, including an extension led by Banque des Territoires acting on behalf of the French State under the “France 2030” program. The round also included participation from MGI Digital Technology Group, historical private investors, and the European Innovation Council (EIC) Fund, which joined as a new strategic partner.
The new capital will accelerate Dracula Technologies’ expansion of its manufacturing capacity and strengthen its position as a global leader in sustainable energy solutions for connected devices. The funds will support increased production, new international industrial partnerships, and expanded global deployment to meet growing customer demand.
Founded in Valence, France, Dracula Technologies has built a reputation as a leading developer of energy-harvesting solutions that eliminate the need for batteries in billions of IoT devices. Its proprietary LAYER technology transforms indoor ambient light into electricity using printed organic photovoltaic (OPV) modules. These solutions are increasingly being adopted across applications such as smart buildings, asset tracking, and sensor networks.
The company is currently fulfilling multi-year, high-volume contracts with major global clients that are seeking to replace conventional batteries in connected devices. Removing battery dependencies not only reduces waste but also helps organizations achieve sustainability targets.
With this latest funding, Dracula Technologies will transition from sheet-to-sheet to roll-to-roll inkjet manufacturing, expanding its production capacity to 600 million cm² per year at its Green MicroPower Factory in Valence. The facility, the largest in the world dedicated to printed OPV module production, has achieved manufacturing yields approaching 95 percent. The company’s long-term strategy includes establishing new production sites near key markets to serve customers better worldwide while continuing to grow its workforce in France.
The expansion will allow the company to address a growing market opportunity estimated at €10 billion in battery replacement technologies, projected to grow fivefold by 2030. By harvesting light to power connected devices, Dracula Technologies is enabling sustainable innovation in the fast-growing IoT sector.
Banque des Territoires and MGI Digital Technology have been long-term partners of Dracula Technologies, supporting the company since its early development. The addition of the EIC Fund further strengthens its European base and aligns with broader EU goals for sustainability, digital resilience, and industrial autonomy.
KEY QUOTES:
“I am very proud of this achievement, which wouldn’t have been possible without the commitment and hard work of our team, and the continued support of our long-standing investors — now joined by the EIC Fund. With this support, we will strengthen our industrial base in France, lay the groundwork for future manufacturing closer to key markets, and begin discussions with industrial partners to accelerate global deployment.”
Brice Cruchon, CEO and Founder of Dracula Technologies
“The renewal of our trust reflects our commitment to supporting companies rooted in local regions while pursuing international ambitions. As an early partner, we are proud to see Dracula Technologies expand its industrial base in France, thereby contributing to the energy and digital transition at both the national and European levels.”
François Wohrer, Chief Investment Officer at Banque des Territoires
“As a public investor supporting breakthrough European technologies, the EIC Fund is pleased to join Dracula Technologies in this new phase of industrial scale-up. Their energy harvesting innovation directly addresses the challenge of reducing battery dependency in connected electronics and supports the EU’s ambitions for sustainability, digital resilience, and industrial autonomy.”
Svetoslava Georgieva, Chair of the EIC Fund Board
“As a pioneer in digital printing technologies, MGI immediately recognized the unique potential of Dracula Technologies’ industrial approach to the production of OPV modules. From the very beginning, we were convinced of the impact their technology would have on powering connected devices, and we have supported them since their inception both as an investor and as an industrial partner, by providing our printing solutions and the associated consumables developed by the MGI Digital Technology Group. This commitment now enables us, as both a shareholder and supplier, to support Dracula Technologies in a new stage of its development and to contribute to the worldwide deployment of sustainable, battery-free energy solutions.”
Edmond Abergel, COO in charge of the MGI Group Strategy
