Naples deep-tech Oxhy raises $2M seed, 8x its crowdfunding target
What's the deal? OxhyDealroom has a profile for this one. Try Dealroom →, a Naples-based deep-tech startup, has raised €1.7 million (about $2 million) in a seed round on equity crowdfunding platform CrowdFundMeDealroom has a profile for this one. Try Dealroom →. The campaign closed at more than eight times its €200,000 minimum target, drawing 500 investors at a pre-money valuation of $13.5 million.
What's the endgame? Founded in 2023, Oxhy is building a device called Oxhycell that works like a solar cell but functions without direct sunlight. It captures ambient heat and infrared radiation to generate continuous electricity around the clock.
The technology targets the Internet of Things (IoT) market, aiming to power wearables, smart-city sensors, and industrial monitoring without chemical batteries. The company is now moving from investment to early industrial collaborations.
Who's behind it? The startup runs from the Campania NewsteelDealroom has a profile for this one. Try Dealroom → incubator at Città della Scienza, with a team of 11 professionals and four senior advisors. It has also opened operations in Ceccano, near Rome, for prototyping, engineering, and industrial heat recovery.
Why does the raise stand out? Southern Italy captures a marginal share of national startup capital. According to P101Dealroom has a profile for this one. Try Dealroom →'s State of Italian VC report, 64% of the country's €1.4 billion in 2025 startup funding went to the north and about 30% to the centre.
The EY Venture Capital Barometer 2026 put total venture investment in Campania at €11 million in 2025, flat on 2024. Oxhy's €1.7 million equals roughly one-sixth of the region's annual volume, spread across a base of about 1,200 active startups.
The signal: Oxhy shows that deep-tech in the Mezzogiorno can attract private capital, build a qualified investor base, and reach seed sizes comparable to Europe's larger ecosystems. When the science is solid and the industrial vision clear, geography matters less.
Image credit: Generated with Gemini
