Eindhoven-based TracXon, a deeptech spin-off from TNO, has raised €4.75 million (approx. $5.50 million or RMB 39.7 million) in seed funding to accelerate the industrialization of its hybrid printed electronics (HPE) technology—a sustainable alternative to conventional printed circuit boards (PCBs).

The round was led by DeepTechXL, with participation from Invest-NL's Deep Tech Fonds, which contributed €2 million, and the Brabant Development Agency (BOM). BOM had also backed TracXon in an earlier pre-seed round.

Founded in 2022, TracXon has evolved from lab research into a production-ready company with Europe's first industrial roll-to-roll (R2R) manufacturing process for flexible, stretchable, and recyclable electronics. Its HPE technology eliminates the need for copper, solder, and toxic chemicals, reducing carbon emissions by up to 80%, with a CO₂ footprint five times lower and material use twelve times less than traditional PCBs.

TracXon has already supported more than 20 customers across 10 countries, co-developing applications ranging from compact IoT devices to LED films for displays and lighting. The company's upcoming R2R VIA Printer—set for launch in mid-2027—will connect circuit layers on both sides of a flexible substrate, enabling scalable production of multi-layer and double-sided HPE.

"TracXon is bringing about a fundamental change in electronics manufacturing, from traditional and polluting to efficient and sustainable," said co-founder and CEO Ashok Sridhar. "This investment brings us closer to replacing at least 10% of PCBs with HPE by 2033, representing roughly €15 billion worth of circuits annually."

Investors emphasized both the sustainability impact and market potential. "TracXon's technology opens doors to applications that were previously unimaginable, such as medical plasters with biosensors or smart, interactive car surfaces," said Liz Duijves, investment manager at Invest-NL.

Hans Boumans, director of TNO Ventures, added: "TracXon is a strong example of how TNO innovations can grow into impactful companies that fundamentally change how electronics are produced."

By focusing on scalability, sustainability, and cross-sector applications, TracXon positions itself as a game-changer for the PCB industry, aligning with growing global demand for cleaner and more circular electronics.