e2ip technologies – a global printed electronics and embedded system technologies innovation leader of the Human Machine Interface (HMI) and Industrial Internet of Things (IIoT) sectors – announced the completion of its oversubscribed global growth funding round. The Series B funding round was co-led by Export Development Canada (EDC) and McRock Capital with existing investor Investissement Québec, which more than doubles its position, and new investor DNA Fund. This round is also supported by the National Bank of Canada (BNC). Founding investors W and Namakor remain.
The funding round provides e2ip technologies with growth capital to productize decades of HMI and IIoT technology leadership from its high-performance engineered solutions business and to grow global revenue through the digital deployment of its productized and ready-to-use printed electronics, embedded systems, touchscreen, and In-Mold-Electronics (IME) platforms.
Plus this funding round will enable e2ip to immediately expand its embedded systems capabilities in its existing high-volume facility in Casablanca, Morocco. And Canadian facilities will additionally be consolidated into a new integrated Manufacturing-R&D facility in Montreal by the end of 2024, which will house e2ip’s new head office.
e2ip technologies will also immediately begin the deployment of the new production lines in its Canadian facilities to provide global market leaders with a high volume, fully scalable In-Mold-Electronics Manufacturing Service (IM-EMS). Utilizing e2ip’s global portfolio of patents, these facilities will be the first fully integrated center of excellence, from material and process innovation to product ideation, industrial design, engineering, and through to high-volume fabrication.
e2ip is part of the advanced materials research and innovation center PRIMA Québec and the National Research Council of Canada, where it invests in fundamental research and applied science in partnership with different universities. And the company’s R&D teams have developed market disruptive innovations through these collaborations, which have added further depth to the company’s broad patent portfolio of Smart Structural Surface technologies.
KEY QUOTES:
“e2ip’s technology is revolutionizing the HMI and IIoT industry. Backed by world-class proprietary and patented technology, they are supporting their customers from ideation to fabrication. Working with like-minded investors, EDC is thrilled to have played a meaningful role in this round of funding. As a strategic investor, EDC can support e2ip by leveraging our financial solutions, trade knowledge and international networks, providing the company with even more momentum to expand into new markets and become a more dominant international market leader.”
- Guillermo Freire, Senior Vice-President, Mid-Market Group at EDC
“e2ip’s Smart Structural Surface technologies enable functions such as touch controls, lighting, telecommunication, and energy harvesting to be printed using additive manufacturing processes, and then directly integrated within the structural surface material of the objects, machines, appliances, and systems we all interact with in our everyday lives. This significantly reduces the eco-footprint and cost of our customers’ products as the structural material is reused to integrate functions within the material, during the automated surface manufacturing process, versus adding components, labor, and cost to the exterior of the structure during the final assembly. Overall weight and space are further reduced, and the overall design is made more appealing, usable, and durable, creating greater differentiation for our market-leading customers.”
- Eric Saint-Jacques, CEO of e2ip technologies
“Technology is a flagship sector for our economy, and Investissement Québec is strongly committed to supporting companies such as e2ip, proven leaders who put innovation at the forefront of their business strategy. We are proud to renew our partnership with e2ip and to help them grow and develop new international markets.”
- Guy LeBlanc, President and CEO of Investissement Québec
“We are proud to support a great Québec-based company that has a long history of operational excellence in its transition towards a product-based business model and a global technology leadership.”
- Stéphane Léveillé, CEO and Co-Founder of DNA Fund
