Expliseat has successfully closed a Series B financing round, raising €17 million in funding.
The funds have been raised from the SPI fund, managed on behalf of the French State by Bpifrance, GoCapital, NCI and one of Expliseat’s original shareholders, BNPParibasDéveloppement.
“As the leader in ultra-light seats for regional aviation and a fast-growing player in the medium-haul aircraft segment, Expliseat is continuing on the path it began in 2011 towards the decarbonization of transport,” the business said.
The funding will be used for:
– a smart manufacturing factory in Angers (France) with a 25,000 seats per year capacity starting Q1 2024. The Angers plant, with a surface area of 6,000 sqm, will be operational by the end of 2023 with a production capacity of 25,000 seats per year, which can be extended to 37,000 seats per year thanks to its partner in Montauban (France).
– the expansion of its product and customer portfolio after having already delivered more than 10,000 seats in North America, Europe, India, China, and the Middle-East.
– a diversification strategy that will develop seats for electric public transportation, starting with high-speed trains by using its unique lightweight solutions for a better passenger experience.
“Expliseat and its investors are committed to provide more efficient and sustainable mobilities through advanced seating technology,” it said.