Fairmat in a $10 million investment deal led by Singular VC.

Fairmat, a Paris, France-based manufacturer of new kinds of industrial products out of material waste, announced closing down a $10 million funding round.

The money was raised from investors led by the France-based Singular VC and will be used to build a production plant, which will be located in France

Fairmat, founded in 2020 by CEO Benjamin Saada, aims to become a producer of new kinds of products from material waste (Recycling Carbon Fiber Composites) sold to industrial companies. The company expects to become functional in 2022 and says it already has contracts signed with manufacturers from different sectors - aeronautics, wind power, automotive.