e-peas, a developer of ultra-low-power energy-harvesting and power-management technology, has raised $22 million in financing to expand its presence in the rapidly growing Ambient Internet of Things market. Crédit Mutuel Equity led the financing through its venture capital subsidiary Crédit Mutuel Innovation, with support from the group’s Belgian subsidiary. SFPIM, the Belgian federal investment and holding company, also participated. Existing investors supporting the financing included the European Innovation Council, Wallonie Entreprendre, KBC Focus Fund, Otium, Nomainvest, The Faktory, and Invest BW.
The Louvain-la-Neuve, Belgium-based company plans to use the funding to accelerate commercial growth, enter additional international markets, and expand its product portfolio for battery-free and extended-lifetime electronic systems.
e-peas also used the financing process to streamline its shareholder structure.
The company develops semiconductor technology that enables connected devices to operate using energy captured from surrounding sources such as light, radio-frequency signals, vibration, and heat.
Its ultra-low-power products collect and manage small amounts of ambient energy that would otherwise go unused. This can reduce or eliminate the need for conventional disposable batteries in connected devices.
e-peas offers a portfolio that includes energy-harvesting power-management integrated circuits, microcontrollers, and sensor solutions.
The company said its technology already powers high-volume applications, including solar-powered remote controls, heating, ventilation, and air-conditioning systems, cameras, and smart tracking devices.
By reducing the frequency of battery replacements, e-peas aims to lower maintenance expenses, extend product lifetimes, and decrease electronic waste.
Battery replacement can create high operational costs for companies deploying thousands or millions of sensors and connected devices. The expense includes not only purchasing batteries but also locating devices, dispatching technicians, and temporarily removing equipment from service.
These challenges can become particularly significant in industrial facilities, commercial buildings, transportation systems, and remote locations where devices are difficult or expensive to access.
Energy-harvesting technology enables devices to collect small amounts of power from their environments and either use it immediately or store it for later use.
e-peas’ products are designed to maximize the amount of usable energy collected while reducing the power consumed by the device’s other system components.
The company believes these capabilities will become increasingly important as the number of connected sensors, trackers, and intelligent devices continues to grow.
Ambient IoT refers to connected devices that operate with extremely low energy requirements and can draw power from their surroundings. Many of these products are designed to function for extended periods without traditional battery replacement or wired power connections.
Potential applications include smart buildings, industrial monitoring, logistics, asset tracking, consumer electronics, infrastructure, and environmental sensing.
e-peas is seeking to make energy harvesting a standard design choice for electronics manufacturers rather than a specialized feature used only in limited applications.
The company has developed its technology through approximately 15 years of research and has built a portfolio of patented intellectual property covering power management and energy efficiency.
The new financing will support faster development of its energy-harvesting chips and expansion into additional product categories.
e-peas also plans to increase its commercial presence as manufacturers seek more sustainable ways to deploy connected devices at scale.
The company serves global customers and maintains offices in Belgium, Switzerland and the United States.
Crédit Mutuel Innovation invested in e-peas as part of its strategy of supporting companies across deep technology, life sciences and digital markets.
The investment firm typically provides between €1 million and €20 million in equity financing to innovative companies. Its parent organization, Crédit Mutuel Equity, manages approximately €5 billion in capital across venture capital, growth equity and buyout strategies.
SFPIM participated in line with its mandate to support Belgian companies operating in strategically important sectors.
The Belgian federal investment and holding company manages approximately €12 billion in assets on behalf of the government. Its areas of focus include energy transition, healthcare, financial services, public services and aerospace and defense.
SFPIM said e-peas represents the type of Belgian deep-technology company it seeks to support because of its semiconductor expertise and exposure to the transition toward more energy-efficient electronic systems.
The financing is expected to help e-peas meet increasing demand from equipment manufacturers seeking to reduce battery use without sacrificing product reliability or performance.
KEY QUOTES:
“This new investment is a strong endorsement of e-peas’ technology, strategy, and market traction. It will allow us to further scale our commercial activities, enter new high-growth markets, and expand our portfolio to support a wider range of energy-autonomous applications. Our ambition is to make energy harvesting a standard design choice for sustainable electronics.”
Geoffroy Gosset, CEO of e-peas
“Supporting e-peas allows us to contribute to reshaping the future of IoT, making it more scalable and sustainable. The IoT market is booming, and e-peas is set to become the undisputed leader in energy harvesting, offering the best solution out there. By backing this innovative company, we’re not just driving IoT growth; we are slashing its carbon footprint. It’s a unique opportunity to create value while making a real, positive environmental impact.”
Alexis Riou, Representative of Crédit Mutuel Innovation
“This investment supports the emergence of Belgian deep-tech champions in critical technologies to the energy transition. e-peas is one of the types of actors we want to support, a company with differentiated technological expertise in semiconductors, addressing a market undergoing structural transformation.”
Alan Vandenberghe, Investment Manager at SFPIM
