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Bioo company broke records with its crowdfunding campaign

BIOO closed a financing round of $550,000 on the Equity Crowdfunding platform SociosInversores.com. Several of the platform’s investors, along with Archipelago Next and WA4STEAM, have taken part in this round. Currently, the company has focused on the sales area in the sustainable installations sector, as well as maintaining its R+D line, which has already been subsidized for 4 years by the EU.

Leah Marie Angelou

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Bioo, a company dedicated to generating electricity from nature, has broken records in its equity crowdfunding initiative on SociosInversores.com. The fundraising campaign, which was opened to strengthen two of its business areas, reached 100% of its goal one day after it started, and in just one week it had already reached $555,000 (€500,000), marking 125% of the goal.

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Fund Archipiélago Next invested in Bioo

Among the investors is the fund Archipiélago Next. The fund gathers some of the main companies of the Canary Islands like the energetic Binter, business angels and family offices, as well as some of the current partners of the company.

Its main motivation to finance this initiative has been the fact that Bioo combines R&D with a solid proposal in the market, such as its line of home automation installations with plants.

Bioo, a pioneering company with the recognition of the European Union

Bioo, which has its own unique innovations, is dedicated to generating electricity from nature, without damaging it. Its technology uses the microorganisms present on soil, which divide matter to release electrons. Other developments include the use of plants as biological antennas and switches. Due to the innovative nature of the proposal, it has the support of the European Union.

In fact, the company received public funding of $2.7 million (€2.5 million) from the European Union’s H2020 program. In addition, the European Parliament considers Bioo “The most innovative company in Europe”, something that is ratified by entities such as Google and Forbes. At the moment, the company continues to work and, thanks to the funds raised, is moving faster towards future goals.

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Three unique business areas to reconnect humans with nature

Bioo differentiates between three distinct but equally unique business areas: Education, R&D, and Facilities. The first is aimed at promoting knowledge of STEAM skills among secondary school students, by making use of developing technologies; the second is the area financed by the European Union dedicated to the development of new technologies to generate a new concept of energy from nature, 100% green.

The Installations line includes technology in an activity focused on the interaction between human beings and the plant world. It uses plants that are capable of sensing changes in frequency upon contact with the person, to activate light and sound, simulating switches. In this way, Bioo aims to transform the spaces that are known today and return nature to the cities.

This service is aimed at sectors such as home automation, retail and event marketing. Its competitive advantages are a disruptive experience for the customer, well-being for the user and the possibility of connecting with the sustainability values of the brands.

Actions committed to SDG

Bioo is a company committed to Sustainable Development Goals and the need to find social and environmental solutions. That is why it aims to reconnect with nature and generate 100% clean electricity. A dream that has become an innovative idea and the beginning of a revolution towards a greener and more sustainable future.

The investors’ welcome has made it clear that this is a real business opportunity with great growth potential.

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(Featured image by Jonas Geschke  on Unsplash)

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First published in SIGLO XXI, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Leah Marie Angelou is an LGBTI activist and equality advocate. She has been a writer for several feminism-focused groups for nearly a decade. Her pieces are often focused on career development and the workplace. She also regularly covers personal and micro-finance, business management and entrepreneurship. Recently she has also focused on covering the promising CBD and hemp industry.