Dracula Technologies, a pioneer in enabling battery-free IoT through energy harvesting from ambient indoor light, announced the completion of its Series A extension round, bringing the total Series A funding to €30 million.
This marks a key milestone in the company’s mission to eliminate batteries from billions of connected devices worldwide. The new funding will allow Dracula Technologies to scale up production, explore industrial partnerships to add additional manufacturing capacity closer to key markets, support global deployment to better serve customers worldwide, and solidify its position as a leader in sustainable power for IoT.
The extension round includes participation from existing investor Banque des Territoires, acting on behalf of the French State under the ‘France 2030’ programme, and leading the financial operation, together with MGI Digital Technology Group, an industrial partner in digital printing technologies, and historical private investors. The round also welcomes the prestigious European Innovation Council (EIC) Fund as a new strategic partner. This combined support from investors underscores confidence in Dracula Technologies’ ability to capture a significant share of the rapidly expanding €10 billion battery replacement market, projected to grow five-fold by 2030.
Meeting market demand
To support growing demand in key sectors such as smart buildings, asset tracking, and IoT sensors, Dracula Technologies is currently fulfilling multi-year, high-volume contracts from global industry leaders to replace batteries in billions of devices using only ambient indoor light. By eliminating the environmental and operational burden of battery replacement, the company is helping customers meet sustainability goals at scale.
Scaling innovation and strengthening the industrial core
The capital will accelerate Dracula’s transition from sheet-to-sheet to roll-to-roll Inkjet manufacturing, quadrupling production capacity to 600 million cm² annually at its state-of-the-art Green MicroPower Factory in Valence – the world’s largest dedicated production facility for printed organic photovoltaic (OPV) modules. With production yields approaching 95%, the company has achieved best-in-class manufacturing efficiency that positions it to serve global markets at scale.
While preparing to establish new manufacturing capacity closer to key international markets, Dracula Technologies is significantly expanding its workforce in Valence, the birthplace of its technology, home to its R&D, manufacturing processes, and first industrial series. The French factory will remain a cornerstone of the company’s industrial strategy, with a wave of new hires underway to support rapid scaleup.
Backing from strategic investors
“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,” said 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.”
“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,” said François Wohrer, Chief Investment Officer at Banque des Territoires.
Svetoslava Georgieva, Chair of the EIC Fund Board, said: “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.”
“As a pioneer in digital printing technologies, MGI immediately recognised the unique potential of Dracula Technologies’ industrial approach to the production of OPV modules. From the very beginning, we were convinced of the impact their technology would have on powering connected devices, and we have supported them since their inception both as an investor and as an industrial partner, by providing our printing solutions and the associated consumables developed by the MGI Digital Technology Group,” said Edmond Abergel, COO in charge of the MGI Group Strategy. “This commitment now enables us, as both a shareholder and supplier, to support Dracula Technologies in a new stage of its development and to contribute to the worldwide deployment of sustainable, battery-free energy solutions.”
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