IVAN-LAZAR BUNDALO EPIC CEO INTERVIEW
What type of customers are you targeting?
In looking for solutions to our problems, it’s also essential to interact with people who have had similar issues. In this respect, we’ve been very grateful for the networking opportunities provided by EPIC at their biotech, PICs, and photonics packaging symposiums.
competence and agility – they are looking for teams that are humble, attentive, and ready to learn. Not being headstrong or arrogant is essential, as that often leads to failure.
AC
The biopharmaceutical industry is highly regulated, very conservative, and it doesn’t like
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new, unproven technologies. So now we’re engaging with various entities, including end-users and systems integrators, to establish different proofs of concept. From the feedback, we are improving and standardising our sensor system and making it more robust and more attractive.
In fact, one such event led to me meeting Jérôme, InSpek’s CEO.
What’s your advice for the next generation of CTOs?
AC
In my experience, Europe has a certain fear-of-failure culture, which is not good for innovation.
I-LB
What are your main markets?
AC
My advice is to go ahead because although failure is very uncomfortable, you learn a lot along the way and gain skills that will pay off next time. Secondly, humility is an important quality. When we asked one of our investors why they trust their money with InSpek, he said that – besides the obvious qualities like
Our target markets are those that require monitoring of microorganism processes. The
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most relevant one is the biopharmaceutical market—in drug discovery and production—where the margins and needs for our type of solution are the highest. Another growing and much more diverse market is synthetic biology, with industries developing, e.g., lab-grown meat, resistant crops, and microorganisms that can degrade pollutants or toxic waste.
Ivan-Lazar Bundalo, CTO at InSpek.
How difficult has it been recruiting the right people?
AC
I-LB So far, it hasn’t been too difficult. This is partly due to being based near Paris that has a lot of talent, but also because we target multi-skilled talent. So, people attracted by the opportunity to work in a variety of interdisciplinary areas rather than doing a specific task, as is the case in more established companies. We are quite international – our team of nine, besides French, includes colleagues from Portugal, Morocco, Congo and me – a Croatian. More than half of our staff are PhDs! We have the strongest expertise in optics and then biotech. What I am happiest about is the atmosphere we have – it’s just warm, fun, respectful and very engaging.
How do you see the future?
AC
Over the summer of 2024, we managed to attract a Seed funding round, raising a total of
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€8 million from the EU and private investors. That was double what we aimed for, so we have to move twice as fast. This means hiring more people, more R&D, and faster industrialization— which will require working with many partners. Underlying this investment is the confidence that our technology is well-placed to meet the increase in demand for bioprocess monitoring systems.
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ISSUE 40 | Q1 2025
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