Estonian startup Gelatex wins second place KPMG Global Tech Innovator competition

Estonian nanotechnology startup Gelatex has won second place in the international competition KPMG Global Tech Innovator 2024. It beat out almost 150 competitors, but lost first place to Japanese company Thermalytica Inc. 

Founded in Tallinn in 2016 by Mart-Erik Martens and Mari-Ann Meigo Fonseca Gelatex has developed a nanofiber technology called HaloSpin. This technology can reduce the cost of nanofiber production by 90%, making its use in industry more cost-effective and environmentally friendly. The materials produced by Gelatex are used in the food, pharmaceutical and cosmetic industries. In 2024, the company attracted investment from Estonian venture capital fund Superangel. The amount of the deal was not disclosed. 

KPMG Global Tech Innovator is an international competition that aims to accelerate the development of startups from around the world by giving them the opportunity to showcase their innovative solutions and technologies to an international audience, including industry experts, investors and potential partners.