French green-tech scale-up Ecoat has just closed a €21 million funding round to shake up one of the world’s most carbon-intensive industries: the coatings and paints sector, which alone accounts for 2% of global industrial greenhouse gas emissions. By replacing fossil-based binders with bio-based, low-carbon alternatives, Ecoat is paving the way for a radically more sustainable future.

The round includes €18 million in equity from leading environmentally committed investors — Yotta Capital, the European Circular Bioeconomy Fund (ECBF), and Starquest, Ecoat’s historic investor since 2013 — with additional support from the French government’s France 2030 plan via ADEME. An upcoming debt package backed by Bpifrance and Ecoat’s banking partners will bring the total to over €21 million.

“This marks a turning point for Ecoat. With the support of our new partners, we’re ready to scale fast — expanding production, accelerating R&D, and going global — all while staying true to our mission: making sustainable coatings the industry standard. We’re proud to be a European leader already — and now, we’re stepping into the US and Asian markets to take this impact to the next level.” said Olivier Choulet, CEO of Ecoat.

“With its investment in Ecoat, Yotta is proud to finance through its Growth Fund Yotta Growth Industry a French leading industrial SMEs which brings to the market innovative and cost-competitive low-carbon solutions to accelerate the decarbonization of the paint & coating industry. We will work alongside Ecoat’s management and our co-investors to help accelerate its growth and its positive impact on the environment,” said Nadia Bouzigues, Managing Partner at Yotta Capital Partners.

“As an investor committed to advancing circular bioeconomy, we at ECBF are proud to support the expansion strategy of Ecoat, a technology leader with a clear commitment to sustainability and circularity. Ecoat’s unique bio-based solutions have already proven their potential in the cost-efficient de-fossilization of paints and coatings” adds Michael Nettersheim, General Partner at ECBF.

“We’ve been backing Ecoat since the very beginning, in 2013 — long before the coatings sector turned its eyes to sustainability. From those early days to becoming a European market leader, we’ve watched Ecoat turn vision into execution. This new round marks a new chapter: one of international growth, especially in the US market, to maximize the decarbonization impact in the global building industry,” added Chloé Cohen-Aknine, Investment Director at Starquest Capital.