Dracula Technologies has completed an extension of its Series A funding round, bringing the total to €30 million ($35 million). This funding is expected to quadruple the annual production capacity of its printed organic PV (OPV) factory in France to 600 million cm² from 150 million cm² at present (see Organic Solar PV Module Factory In France).  

Located in Valence, Dracula says its Green MicroPower Factory is the world’s largest dedicated production facility for printed OPV modules. The proceeds will enable the company’s transition from sheet-to-sheet to roll-to-roll inkjet manufacturing. 

Dracula develops technology that powers connected devices using energy harvested from indoor light, eliminating the need for batteries. The new funding will help it scale up production, form industrial partnerships near key markets, and support its global expansion. 

It is currently ramping up production to meet the ‘multi-year, high-volume contracts’ from global companies in sectors such as smart buildings, asset tracking, and Internet of Things (IoT) sensors. Companies seek to eliminate the environmental and operational burden of battery replacement by using Dracula’s OPV devices, which will help them meet sustainability goals at scale. 

Investors in this round include the French public investment bank Banque des Territoires on behalf of the French government under the France 2030 program, digital printing technologies company MGI Digital Technology Group, and historical private investors. The European Innovation Council (EIC) Fund is also a new investor in the company. 

“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,” said Chair of EIC Fund Board, Svetoslava Georgieva.  

Dracula says this funding round backs the company’s potential to tap into the €10 billion battery replacement market, which is expected to grow 5-fold by 2030.