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LINQ closes an investment round of 1.24 million euros

2022-03-09

The new capital will enable the company to accelerate its international expansion

The Basque start-up LINQ has completed a capital increase process of €1,240,000 to finance its growth and internationalization process. The company based in Donostia - San Sebastián has its origin in the transfer of technology developed in the electromagnetic field from the CEIT technology centre, LINQ’s partner, and in the experience and capacity of the entrepreneurial team in the automotive sector, developing systems to optimise production processes.

According to Ibon Iribarren, CEO and co-founder of LINQ, "this new capital will allow us to accelerate our product launch and our international expansion, a key aspect for us given the company"s global nature".

LINQ is dedicated to the non-destructive electromagnetic inspection for quality control of manufacturing processes, building inspection machines and equipment for industries such as automotive, appliances, steel, etc. Its mission is to support these companies in their journey to zero defects in the manufacturing of ferrous parts. To do this, LINQ applies non-destructive methods (NDT) using electromagnetic techniques that detect mechanical properties of the pieces (hardness, hardened case depth, yield stress, etc.). LINQ also develops advanced digital tools for intelligent automation of intralogistics and production processes, to optimise the efficiency and performance of industrial plants.

Today, the vast majority of processes to verify the mechanical properties of metal parts are evaluated using destructive techniques, which increases costs, time, and reduces the reliability of quality control. The technology of the Gipuzkoan start-up, founded in 2018, as the result of a development with the CEIT Technological Centre, allows for a more profitable, fast and reliable quality control of 100% of the parts by applying magnetic techniques.

LINQ’s solutions have aroused great interest and despite its youth, the company, which has a staff of 12 people, has already built a great prestige in a sector whose global market is in an initial phase of growth and development. Iribarren says this is partly because "LINQ’s technology contributes to the reduction of emissions and energy consumption in industry and, therefore, to the decarbonisation of production processes”.

The investment round has been led by the UN I+D+i Technology Transfer fund, managed by Clave Mayor and focused on technology transfer. In turn, the capital increase has been completed by the CDTI Innvierte, Radar Ventures and EIT Manufacturing, the largest manufacturing community in Europe.