Valence-based Dracula Technologies secures €30M in Series A round to power IoT devices with light instead of batteries

Valence, France-based Dracula Technologies announced the successful completion of its Series A extension round, bringing the total Series A funding to €30M.

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Based out of Valence, France, Dracula Technologies specialises in battery-free IoT through energy harvesting from ambient indoor light.

The company has announced the successful completion of its Series A extension round, bringing the total Series A funding to €30M.

The extension round includes investment from Banque des Territoires, representing the French State under the “France 2030” program, which is leading the financing.

Banque des Territoires is part of Caisse des Dépôts, focusing on supporting local areas. It acts as a one-stop shop, working with local authorities, public enterprises, housing organisations, legal professionals, businesses, and banks.

The bank helps these groups with their community projects by offering services such as advice, loans, investments, and banking services. Its goal is to serve all types of local areas, from small rural towns to large cities, while promoting ecological changes and social unity.

“The renewal of our trust reflects our commitment to supporting companies rooted in local regions while pursuing international ambitions. As an early partner, we are proud to see Dracula Technologies expand its industrial base in France, thereby contributing to the energy and digital transition at both the national and European levels,” says François Wohrer, Chief Investment Officer at Banque des Territoires.

Also participating are MGI Digital Technology Group, a company specialised in digital printing, along with long-time private investors.

This round adds the European Innovation Council (EIC) Fund as a new strategic partner.

Svetoslava Georgieva, Chair of the EIC Fund Board, says, “As a public investor supporting breakthrough European technologies, the EIC Fund is pleased to join Dracula Technologies in this new phase of industrial scale-up. Their energy harvesting innovation directly addresses the challenge of reducing battery dependency in connected electronics and supports the EU’s ambitions for sustainability, digital resilience, and industrial autonomy.”

Fund utilisation

The new funding will help Dracula Technologies increase production, form partnerships to enhance manufacturing near key markets, support global operations to better serve customers, and strengthen its leadership in sustainable power for IoT.

The capital will also accelerate the French company’s transition from sheet-to-sheet to roll-to-roll Inkjet manufacturing.

This shift will increase production capacity to 600 million cm² annually at its state-of-the-art Green MicroPower Factory in Valence.

According to the company, this is the world’s largest dedicated production site for printed organic photovoltaic (OPV) modules.

Currently, the company has production yields nearing 95 per cent. The company will also use the investment to expand its workforce in Valence.

Dracula Technologies: Specialising in organic photovoltaic technology

Founded by Brice Cruchon, Dracula Technologies specialises in organic photovoltaic (OPV) technology.

The company’s flagship technology — LAYER, generates power from low-intensity ambient light, enabling innovative IoT solutions without batteries.

A French company’s organic photovoltaic (OPV) modules use digital printing technology to capture ambient light, removing the need for traditional batteries.

Their new product, LAYER Vault, combines energy harvesting and storage in one flexible film.

This allows devices to work continuously and supports Smart Buildings, Smart Homes, Smart Asset Tracking, and other similar applications.

Supporting the company’s mission is its new “Green MicroPower Factory,“ a state-of-the-art, fully automated facility, the largest of its kind in the world, with a capacity of up to 150 million cm² of printed OPV devices per year.

“I am very proud of this achievement, which wouldn’t have been possible without the commitment and hard work of our team, and the continued support of our long-standing investors — now joined by the EIC Fund,” says Brice Cruchon, CEO and Founder of Dracula Technologies. “With this support, we will strengthen our industrial base in France, lay the groundwork for future manufacturing closer to key markets, and begin discussions with industrial partners to accelerate global deployment.”