FaradaIC Sensors, an electrochemical gas detection company, has raised €4.5M in a funding round led by JOIN Capital.
The round also saw follow-on investment from Forma Prime, an early-stage investor in the company, along with participation from other investors, including the European Innovation Council, Elev8, Atlantis-Ventures, Tiburon, and Frontures.
This fresh funding will help FaradaIC scale up its innovative microchip technology that enables the miniaturisation and mass production of electrochemical sensors on chips.
The key innovation behind MECS is FaradaIC’s proprietary solid-state ion-conductive material, which eliminates the need for liquid electrolytes. This material breakthrough removes a significant barrier to integrating electrochemistry into chips, which historically required liquid electrolytes to function. By using standard semiconductor manufacturing processes, FaradaIC has been able to bring electrochemical reactions onto the microchip level for the first time, enabling scalable production.
FaradaIC’s technology aims to address the limitations of traditional electrochemical gas sensors, which have been in use since the 1960s. The sensors, which detect gases such as oxygen, carbon monoxide, and hydrogen, have long been hindered by their size, high energy consumption, short lifespan, and difficulty scaling for modern, high-volume devices.
The global gas sensor market is growing rapidly and is expected to surpass $35B by 2030, up from $18B in 2024. FaradaIC’s breakthrough technology opens up a significant opportunity in this space, which includes industries ranging from food logistics and healthcare to automotive and consumer electronics. Gas sensors are vital in these sectors, particularly for applications requiring precise measurements of gases, such as medical devices and food freshness monitors.
“Our clients tell us that existing gas sensor technology cannot meet their requirements; especially oxygen gas sensors. Whether they are building medical devices or food freshness monitors, the problems are the same; the sensors are too large, expensive, and power hungry,” said Dr. Ryan Guterman, CEO. “This is a once-in-a-generation leap forward that finally delivers a miniaturized and scalable solution for virtually any application.”
“With Faraday-Ox, we can deliver millions of sensors to our clients, which is something none of our competitors are able to do. MEMS killed legacy gyroscope and accelerometer technology, and MECS will do the same, starting with gas sensing,” added Dr. Guterman.
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