AirInSpace (France) - Dec 2007

unquote
01 December 2007

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Matignon Investissement et Gestion and Oddo Asset Management have provided €6m in a Bround of financing in air sterilising technology company AirInSpace. Matignon, the lead contributor with €3.65m, invested via its fund Matignon Technologies II FCPR, while Oddo invested through Générations Futures. The fundraising, intermediated by venture corporate finance boutique Aelios Finance, should be the last for AirInSpace’s healthcare business. Baring Vostok Capital Partners and two French business angels had previously backed the business.

Company

AirInSpace has developed mobile biodecontamination units which eliminate harmful airborne microorganisms. The technology, which was originally developed by Russian scientists for use in the Mir space station, is a light, energy-economical and low-maintenance alternative to conventional mechanical high efficiency particulate air (HEPA) filters. Some French hospitals are already using the product and other commercial applications are planned, including aircraft cabins, offices, and anti-allergy rooms. The firm, which was founded in 2002 and employs around 35 staff, intends to expand into the US market.

People

Dr Thierry Chignon was in charge of the investment for Matignon Investissement et Gestion, while Laurent Dumas-Crouzillac and Laetitia Vuitton represented Oddo Asset Management. Laurent Fullana is AirInSpace’s CEO.

Advisers

Equity - Cabinet Regimbeau, Willy Barbot (Other Due Diligence)Equity - Constantin, Denis Cyrille (Financial Due Diligence)Equity - Granrut, Geoffroy de Vries (Other Due Diligence)Management - Aelios Finance, Alain Lostis (Corporate Finance)Management - De Brauw Blackstone Westbroek - United Kingdom, Kees Kraaveld (Legal)

Sourced from: France unquote" 87 (Jan 2008)