# Ecoat

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ecoat

- Industry: Chemicals
- Headquarters: France
- Website: www.ecoat.fr
- Latest round: Series A (Feb 14, 2023)
- Investors on record: 8

## About

Ecoat S.A.S., based in France, specializes in developing and manufacturing bio-based binders for the coatings and paints industry, focusing on sustainability and environmental innovation.Founded in 2011 in France, Ecoat S.A.S. is dedicated to producing bio-based binders designed for the coatings sector, specifically targeting paint formulators and manufacturers globally. The company has completed six deals, with the latest funding round occurring on April 3, 2025, where it raised EUR 21 million from investors including Yotta Capital Partners, ECBF Management GmbH, ADEME, and returning investor StarQuest. The CEO, Olivier Choulet, leads the company in its mission to enhance sustainability in the coatings industry, aligning with market demands for environmentally friendly solutions.Ecoat specializes in the development and manufacturing of high-performing bio-based binders tailored for the coatings and paints industry. Their product range includes bio-sourced polymer technologies for applications such as architectural, metal protective, and wood coatings, with bio-based content between 30% and 100%. Ecoat focuses on water-based technologies to supply end-users, including paint formulators and manufacturers across Europe, Asia, and North America, with sustainable solutions that meet ecological transition challenges.In 2019, Ecoat reported a revenue of EUR 956,612.50. The firm operates on a transactional model emphasizing partnerships with distributors and direct engagement with clients to supply eco-friendly products tailored to specific needs. Ecoat’s commitment to sustainability drives demand for its offerings, aligning with environmental regulations and consumer preferences in the coatings sector.In April 2025, Ecoat raised EUR 21 million in venture funding to support its strategy of decarbonizing the paints and coatings sector, one of the most carbon-intensive industries globally. The recent funding will enable the company to advance the development of new products and expand into targeted markets, solidifying its position in the eco-sustainable coatings market.

## Funding rounds

- Series A, Feb 14, 2023 — 123 Investment Managers, Caisse d'Epargne, Smalt Capital, Crédit Coopératif, Bpifrance Investissement, BNP Paribas, Caisse d'Epargne Cote d'Azur, Banque Populaire Mediterranee

## Investors

- 123 Investment Managers (https://capitalatlas.ai/funds/123-investment-managers) — Series A
- Caisse d'Epargne — Series A
- Smalt Capital (https://capitalatlas.ai/funds/smalt-capital) — Series A
- Crédit Coopératif — Series A
- Bpifrance Investissement (https://capitalatlas.ai/funds/bpifrance-investissement) — Series A
- BNP Paribas — Series A
- Caisse d'Epargne Cote d'Azur — Series A
- Banque Populaire Mediterranee — Series A