Raising a Seed round of 2.5M€ to be used for a 24-month run-way.

60% secured, led by Hyundai. Other details:

• Investment type: priced round;
• 60% covered by lead investor, first closing done, 1M in allocation left;
• currently - no CL, no debt;
• pre-seed - 1,2MEURO in late 2022 (for details on pre-seed and cap table details - Cap Table

To be used for:

• Bring a senior commercial director – multiple geographies & accelerating expansion in aerospace and defense.
• Start five commercial projects with OEMs (land and expand model) - to reach 4M€ AR (mix Recuring and PoCs).
• Develop OxidOSProcess and validate it on OxidOS with an external audit from a certification body (obtain ASIL B certification).
• Prepare for a Series A - aiming for a USA lead round, with CVCs from the automotive / aerospace/ defense.