UGGC Avocats, advising Bpifrance in the €80 million fundraising of the deeptech company ITEN, the specialist in lithium-ion ceramic micro-batteries

October 12, 2022 – UGGC Avocats, one of France’s leading independent law firms and a multidisciplinary business law firm, acted as advisor to Bpifrance, an investor in the capital raising by the deeptech ITEN.

Founded in 2011 near Lyon to develop, manufacture and market micro-batteries, ITEN has become the world leader in the supply of rechargeable solid state lithium-ion micro-batteries for the electronics industry.

This new €80 million round of financing was carried out with Bpifrance, via the SPI and PSIM funds, and Groupe SEB, accompanied by the company’s historical investors, EREN Groupe, Habert Dassault Finances and Innovacom.

Thanks to this new round of financing led by Bpifrance, but also thanks to the raising of 60 million euros in the form of debt, ITEN hopes to open two factories in France to enable the production of several hundred million micro-batteries each year.

ITEN had previously raised €20 million in three rounds of financing.

The UGGC Avocats team that assisted Bpifrance is composed of Charles-Emmanuel Prieur (partner), Laura Malach (counsel) and Bernard de la Vallée Poussin (associate)

ITEN was advised by Goodwin (legal counsel) and Rochefort & Associés (financial counsel)

SEB Alliance was assisted by Chammas & Marcheteau (legal counsel).