June: iCOMAT funding success | News and features

Founded by Dr. Evangelos Zympeloudis, iCOMAT is one of the leading manufacturers of advanced composite structures for the aerospace and automotive industries.

iCOMAT’s Rapid Tow Shearing (RTS) process means carbon fiber strips can be used in physically curved positions without damage or failure.

Unlike traditional methods that create components by layering layers of straight fibers, the iCOMAT solution allows fibers to be precisely routed, optimizing structural properties at any given point.

The technology can significantly reduce weight compared to existing commercial solutions and greatly improve production rates.

The investment round was led by 8VC, a technology and bioscience venture capital firm, alongside the NATO Innovation Fund. Other investment partners include Syensgo Ventures and existing iCOMAT investors Velocity Partners VC.

The Bristol-based company has a long association with SETsquared and its academic partners at the University of Bristol.

iCOMAT currently works with over 25 customers in the aerospace, defense and automotive sectors and has successfully delivered parts for demanding applications including fighter aircraft panels, space launcher structures and Formula 1 components.

To meet demand, iCOMAT is in the process of building its first manufacturing facility in Gloucester. The state-of-the-art facility will house three RTS production lines, along with a range of other advanced processing equipment. The plant is expected to be fully operational by the end of 2024.

iCOMAT founder and CEO Dr. Evangelos Zympeloudis said: “Our RTS process not only offers unmatched structural efficiency, but unlocks fully automated production flows.

“We’re excited to partner with our investors and accelerate progress toward our mission—to revolutionize transportation by delivering the lightest structures and vehicles possible.”