NexSteppe, a Maliby, CA-based company dedicated to developing sustainable feedstock solutions for the biofuels, biopower and biobased products industries, has raised $14m in its second round of funding.
The round was led by Braemar Energy Venture, with participation from returning investors CYM Ventures and Zygote Ventures, among others.
The company plans to use the capital to scale up its sugar and biomass programs, and to advance its first products toward commercialization.
Led by founder and CEO Anna Rath, NexSteppe is focused on developing sweet sorghum, high biomass sorghum and switchgrass breeding, which can be processed by biorefineries, sugar to ethanol mills, and coal or biomass-fired power plants into a myriad of products ranging from fuels to power to plastics to cosmetics.
In conjunction with the funding, Dennis Costello, Partner at Braemar Energy Ventures, has joined the company’s Board of Directors.