RWDC Industries Pte Ltd, a Singapore-based biotech startup, closed a US$13m Series A2 funding.
The round was co-led by Vickers Venture Partners and WI Harper Group, with participation from Ridgevale Enterprises and individual investors. In conjunction with the funding, Vickers Chairman and co-founding partner Dr. Finian Tan, along with WI Harper Chairman Mr. Peter Liu, have joined RWDC’s board of directors.
Series A2 funds will primarily be used to expand RWDC’s PHA (polyhydroxyalkanoate) production capacity in Athens, Georgia (USA), to 2,000 tonnes per year, making it among the world’s largest PHA producers by early 2019.
Founded in 2015 by Executive Chairman Mr. Roland Wee and Chief Executive Officer Dr. Daniel Carraway, RWDC Industries develops medium-chain-length polyhydroxyalkanoate (mcl-PHA) biopolymers that are designed for use across a broad range of applications.
PHAs are linear polyesters naturally produced by bacterial fermentation of plant-based oils or sugar. RWDC’s PHA is certified to be fully biodegradable in soil, water and marine conditions (i.e. all potential end-of-life scenarios) by TUV Austria (formerly Vincotte), fully biodegrading within weeks with no toxic residue.