Photio, an EBCT in the Know Hub Chile portfolio, successfully closes its first investment round

The science- and technology-based startup, a winner of Know Hub Ignition 2020, developed an innovative additive that can be combined with all kinds of products for buildings, roads, furniture, vehicles and even clothing, capturing greenhouse gases from the environment.

This year they will launch four products on the Chilean market, and they have just closed a USD 600,000 Pre-Seed round from Chilean national soccer team player Guillermo Maripán, focused on strengthening their R&D area to consolidate their position in the Chilean market.

In 2019, an environmentally focused Chilean startup called Photio launched an innovative additive that, when mixed with paint, asphalt, plastic, textiles, leather and other materials, captures greenhouse gases from the environment.

In 2020, Photio took part in Know Hub Ignition, one of the first national programs to support science- and technology-based startups, and was one of the winning EBCTs. It is currently part of the corporation’s technology portfolio.

This science- and technology-based startup was certified in Chile by Universidad Católica and in the United States by the University of California, Riverside, and has already received national and international awards, notably the Creative Business Cup 21 in Denmark, Avonni 2022 and PwC 2022 (an award granted by PricewaterhouseCoopers). The EBCT now adds a new and important achievement: it closed a USD 600,000 round.

The investment was made by Chilean national soccer team player Guillermo Maripán, who bought part of the shares of the company, which expects to expand in 2023.

Following the national soccer player’s unprecedented investment, Matías Moya, CEO of Photio, said that “we received this investment with great enthusiasm.” They knew, he adds, that in the sports world of Mexico and Spain, investment by major figures was common. “We are proud that our startup caught Guillermo’s interest. With this milestone we validate that this is a cross-cutting proposal that highlights shared environmental responsibility,” he says.

Business model

The service life of the product developed by Photio is 3 to 4 years in paint, and even longer in concrete. The company has already successfully tested it on stretches of asphalt on the Autopista Central and has validations in leather and textiles for furniture and sneakers.

“This is a good way for organizations, companies and people to take action by developing better products and in their own lives, helping to reverse the impact of polluting emissions. It is estimated that one square meter coated with this product has the same depolluting potential as two trees,” Moya says of the additive’s properties.

Photio’s business model is focused on verticals: depolluting projects that combine art and science in urban interventions to offset polluting emissions; direct sales of the additive to construction and real estate companies; and finally, the creation of end products such as gallons of paint or synthetic leather for furniture and footwear, for example.

Moya says this is his first venture. He previously worked as a consultant at mining sites. “It was precisely at that time that I became motivated to look for answers to the pollution problem in that industry. Together with my current partners, Constanza Escobar and Jaime Rovegno, we came up with the idea of creating this additive, designed to become a depollution platform, since it can be applied to all kinds of surfaces,” he adds.

Photio has various clients, such as Constructora PAZ, Echeverría Izquierdo, Banco de Chile, Caja Los Andes, Bupa and Vías Chile, among others, which have allowed them to positively impact the quality of life of thousands of people through our nanotechnology, replicating the process of photosynthesis to clean the air we breathe.

Photio’s growth path continues. That is why, Moya says, the current USD 600,000 round will mainly be used to strengthen their R&D area, with a strong focus on consolidating the technology’s position in the Chilean market and launching new mass-market products and novel applications.