Novoloop, a Menlo Parck, CA-based upcycling startup, raised $11M in Series A funding.
The round was led by Envisioning Partners with participation from Valo Ventures, Bemis Associates, SOSV, Mistletoe, and TIME Ventures.
The company intends to use the funds to complete pilot scale-ups and commercialize its process technology.
Led by Jeanny Yao and Miranda Wang, Novoloop delivers chemicals and materials made from plastic waste through their patented, low-carbon upcycling technology process ATOD™.
The first product based on the company’s ATOD process is Oistre™ (OYST-rah), a thermoplastic polyurethane (TPU) for use in high-performance applications such as footwear, apparel, sporting goods, automotive, and electronics.
The company also announced joint development partnership with Bemis Associates to convert plastic waste into performance products.
FinSMEs
15/02/2022