The Barcelona startup Bound4blue, specialized in rigid sail technology for boats, has raised €22.4 million in a financing round in which multiple investors have participated. Of the total money raised, 15.9 million have been contributed by GTT Strategic Ventures, EIC Fund (European Innovation Council), Shift4Good, Louis Dreyfus Company Ventures, Sustainable Ocean Alliance, Sun Returns, Kai Capital, as well as current shareholders, among which include the Ocean Born Foundation and CDTI (Center for Industrial Technological Development).
This funding has been complemented by a €4.1 million grant from the Innovation Fund Program and an additional €2.4 million grant previously awarded in 2021 by the EIC Accelerator Programme, bringing the total funding to €22.4 millions of euros.
Founded in 2014, bound4blue develops wind-assisted propulsion systems, which allow shipowners and shipping companies to reduce the fuel consumption of their ships. Technology also helps maritime transport adapt to new international regulations. The funds raised will be used to help the company implement its innovative suction sail system, as well as increase capacity to meet demand for zero-emission propulsion solutions in shipping.
The investment round has been advised by the law firm Ceca Magán, accompanied by the partner in the mergers and acquisitions area, Miguel Lobón, and with the participation of his team members, Diego Gómez and Borja Pellejero.
