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IRM.Life 1A
Wireless Energy & Data Infrastructure for Medical Devices
The IRM.LIFE 1A compartment of Spreds Finance would participate in the financing of IRM.LIFE BV/SRL for an amount between €25,000 and €3,000,000 (the “Capital Increase”).
From the total amount raised during the offering period, Spreds Finance will use €1 per Participatory Note, subject to compliance with the conditions applicable to this investment.
The maximum offer amount of the offer: €1,500,000
Subscription price: Each Participatory Note has a nominal amount of €1. Added to this is a subscription cost of up to 5% of the nominal amount per Participatory Notes (or €0.05). The total subscription price of a Participatory Note is thus a maximum of €1.05. The minimum subscription amount is €500 (excluding subscription fees).
Conditions precedent of the offering: The Notes will only be issued if, within 6 months from the Closing Date (the Effective Date), the following cumulative conditions precedent to the subscription of shares of IRM.LIFE by Spreds Finance are met:
The total amount of firm commitments to subscribe to this capital increase shall be at least €25,000 and not more than €3,000,000.
The Capital Increase is carried out on the basis of a pre-money valuation of the company of maximum €7,500,000.
Spreds Finance will participate in the capital increase for an amount equal to the result of the subscription to Participatory Notes of the IRM.LIFE 1A compartment. This amount must be at least €25,000.
Spreds Finance will verify whether these conditions are met no later than six months after the closing date (the “Effective Date”), i.e. 07/06/2027.
If one or more of these conditions are not met on that date, the Notes will not be issued and investors will be reimbursed their subscription amount no later than 15 working days after the Effective Date.
Tax Shelter (45%)
This investment is eligible for a tax reduction for Belgian investors under the tax incentive on tax shelter for start-ups. The reduction of up to 45% of the total nominal amount of the Participatory Notes invested will be applicable since the Underlying Assets are shares in a micro- enterprise. The total tax benefit is therefore a maximum of €0.45 per Participatory Note. The total tax benefit is therefore a maximum of €0.45 per Participatory Note.
The available tax shelter budget is €166,900.
Confirmed commitments
The entrepreneur will invest €10,000 in the company through the present offer.
It should also be noted that the company has currently received a commitment for an investment of €500,000 by a German entity. This investment is not a condition precedent to the subscription of shares by Spreds Finance .
Valuation of the company
The company has set their pre-money valuation at EUR 7,500,000, taking into account its protected technology position, existing technical evidence, commercial agreements and access, asset-light licensing model, and the milestones to be completed through the current Seed round.
IRM.Life is presently a pre-revenue deep-technology company. The valuation is therefore not based on established turnover: the financial plan assumes no revenue during the first two years and recognises revenue only after a customer pilot has met its acceptance criteria and a commercial licence has been executed. This distinction is important because the investment concerns an early commercialisation stage rather than an already mature operating business.
The company commercialises the MRT-E wireless-energy platform developed by Nicola BV-biaNergy. Its intellectual-property position includes published European patent application EP4679673 A1, based on application EP24188458.4, covering eight identified core technology and claim areas; a further 22 extension assets are in preparation. Signed intellectual-property agreements place the relevant platform rights with Nicola BV-biaNergy, of which IRM.Life is the healthcare commercialisation vertical.
The technology is supported by engineering simulations and preliminary testing covering distance-dependent received power, RF-to-DC conversion, multi-receiver operation, EMC and RF-power screening, and SAR and thermal exposure screening at 868 MHz and 915 MHz. These results provide feasibility and pilot-readiness evidence, but they are not presented as final certification: accredited testing, design finalisation, OEM validation and product-specific regulatory approval remain necessary.
Commercial development has progressed beyond an unsupported market concept. The latest Financials report a signed €5.6 million commercial contract with LOMGroup and hospital-room testing access through Acibadem. Other organisations—including Belkin, Withings, AWS, VTEC/Philips and Fresenius Helios—are described as being at offer, NDA, collaboration or negotiation stage; these discussions are not treated as recognised revenue.
IRM.Life follows an asset-light business model under which it designs, licenses and supports the technology, while OEM customers integrate the receiver, manufacture the final device and retain responsibility for final product approval. The intended commercial structure is a three-to-five-year enterprise deployment licence, with an illustrative licence-equivalent value of approximately €2.0 million, covering deployment rights, integration documentation, power maps, monitoring software, evidence updates and implementation support.
The €3.0 million Seed round is intended to finance the full 24-month pre-revenue programme required to convert the present evidence base into accepted customer pilots and commercial licences. Of the planned round, €0.5M is committed by the lead investor, subject to final transaction documentation. EU grant funding of €0.80–€1.50 million is being pursued with UCL and VTT, while crowdfunding and cash or in-kind support from biaNergy are expected to finance the remaining gap; the grant applications are not confirmed awards.
The valuation therefore reflects a combination of protected technology, accumulated development work, preliminary validation evidence, documented commercial progress and the scalability of an OEM-led licensing model. It does not assume that the projected Year 3 revenue or later profitability is guaranteed: value creation remains dependent on successful technical validation, paid-pilot acceptance, regulatory hand-off and conversion into executed enterprise licences.
Exit Strategy
For investors, the most likely exit scenario for IRM.Life would be a strategic sale (“trade sale”) to an established player in the medical technology, healthcare technology, wireless power, or connected-device ecosystem.
IRM.Life is developing the healthcare commercialization vertical of Nicola BV-biaNergy, translating the protected MRT-E wireless-energy platform into OEM-ready clinical energy infrastructure. Its asset-light business model is based on designing, licensing, and supporting the technology, while device manufacturers integrate the receiver, complete final regulatory approval, and manufacture the end devices.
As the technology progresses from validation and pilot evidence toward OEM integration and commercial deployment, a proven wireless-energy platform supported by recurring enterprise licenses, validated clinical applications, and relationships with major healthcare and technology companies could become an attractive acquisition target for strategic industry players.
A potential exit could occur within a timeframe of approximately 5 to 7 years, once:
the MRT-E platform has successfully progressed through technical validation, pilot evidence, and regulatory hand-off;
multiple OEM/deployment licenses have been converted into recurring commercial agreements;
annual revenue has reached approximately €16 million or more;
IRM.Life has demonstrated strong profitability and positive cumulative cash flow;
the technology has been successfully integrated into medical or healthcare applications and its ability to scale across additional OEMs and use cases has been demonstrated.
Potential acquirers could include, among others, international MedTech and HealthTech companies, medical-device manufacturers, connected-device and wireless-power technology groups, healthcare infrastructure providers, and other strategic industrial players seeking to integrate wireless-energy technology into their product portfolios.
In addition to a strategic acquisition, management identifies two other possible routes for investors to realise value. A company share buyback could become possible from Year 5 if IRM.Life generates sufficient profits and liquidity. An IPO could also be considered within Years 5 to 7 if the company reaches the required scale and market conditions are favourable. These alternatives are considered secondary to a strategic acquisition and remain dependent on the company’s financial performance and market circumstances.
Unlike the CaaS scenario, no specific acquisition valuation or investor return multiple is assumed here. Management currently confirms a €7.85 million pre-money valuation for the Seed round, corresponding to an implied €10.85 million post-money valuation if the full €3.0 million round is raised. Any future exit valuation would depend on the commercial adoption of MRT-E, the number and value of OEM licenses, profitability, intellectual-property value, market conditions, and any future financing rounds and resulting dilution.
This exit scenario reflects management’s current forecasts and strategic objectives. It is presented for illustrative purposes only to give investors an overview of possible future scenarios. No guarantee can be given regarding the completion of an exit, its occurrence within the projected timeframe, the availability of a company share buyback or IPO, or the achievement of a specific valuation or investor return.
Most likely vs. possible: a strategic acquisition remains the primary route; a company share buyback becomes practical only if profits and cash are strong; an IPO is a higher-upside but more demanding option. Investor reality check: early-stage shares are not easy to sell.
KPI 1: Enterprise Deployment-License Revenue
Key indicator of commercial adoption and the scalability of IRM.Life’s asset-light licensing model.
Now / Seed phase: €0 forecast revenue Year 5: approximately €16.0 million in revenue Year 7 (potential exit): approximately €64.0 million in revenue
KPI 2: OEM / Deployment-License Conversions
Key indicator of OEM adoption and the conversion of technical validation into recurring commercial agreements.
Now / Seed phase: validation and OEM integration phase, with no license-equivalent units included in forecast revenue Year 5: 8 license-equivalent units Year 7 (potential exit): 32 license-equivalent units
KPI 3: EBITDA and Liquidity
Key indicators of operational maturity, profitability, and IRM.Life’s capacity to generate sustainable cash flow.
Now / Seed phase: investment phase, with a maximum cumulative cash requirement of approximately €3.0 million over Years 1–2 Year 5: forecast EBITDA margin of approximately 80%, with positive cumulative cash flow Year 7 (potential exit): strong profitability and liquidity expected to support the evaluation of strategic exit options
Use of Funds — 24-month Seed period
A 24-month Seed plan to turn pilot readiness into paid licences
How the funds are used until first revenue reached
Subscription period
Start date of the offering period: 08/09/2026 Scheduled end date of the subscription period: 07/12/2026
Extension: Maximum extension of 3 months, until 07/03/2027
Conditions for extension: Spreds Finance may decide to extend the subscription period if the total amount of the orders contained in the subscription forms is at least €20,000 on 07/12/2026.
Early closing: The offer can be closed early once the minimum offer amount, of €25,000, has been reached. Early closure of the offer may also be decided if the total amount of orders contained in the subscription forms signed and transferred to Spreds Finance reaches the maximum amount of the offer.
Consequences if the target capital is not raised by the deadline: If the target capital is not raised, the Participatory Notes will not be issued and all commitments related to this offer will be cancelled. Investors will be reimbursed for their respective Subscription Amount no later than 15 business days after the Deadline. Investors will not incur any fees or expenses as a result of the offer not reaching the targeted amount.
TAX SHELTER
45%
Investments in this company benefit from a 45% personal income tax reduction. Read more…
A remaining amount of €91,050 is available for the Tax Shelter benefit.
