RWDC Industries, a Singapore-based biotech startup providing a solution to the world’s single-use plastic crisis, closed a US$133m two-stage Series B funding round.
The round was co-led by Vickers Venture Partners, Flint Hills Resources, CPV/CAP Pensionskasse Coop and International SA with participation from existing investors Eversource Retirement Plan Master Trust and WI Harper Group.
The funds will allow the company to increase its production capacity, with a new facility in Athens, Georgia.
Co-founded by CEO Dr. Daniel Carraway and Executive Chairman Roland Wee, Founded in 2015 by Mr. Roland Wee and Dr. Daniel Carraway, RWDC Industries is a biotechnology company that develops innovative and cost-effective biopolymer material solutions, including polyhydroxyalkanoate (PHA). PHA is fully biodegradable and can be used as a substitute for plastic in a wide range of everyday, single-use consumer goods, from straws to utensils to cups and plates to lids. RWDC supports sustainable practices and encourages responsible choice in plastic waste management, including recycling, to protect our environment and planet.