Oxeco, an Oxford, England, UK-based chemistry technology company transforming product design and manufacturing, closed a $10.5m funding.
The round was led by Lansdowne Partners, with participation from Ora Capital Partners, Tanarra Capital, and the Goh family office.
The company intends to use the funds to commercialize the technology and advance R&D across the clean technology and transport sectors.
Led by newly appointed Chief Executive Officer Vassilis Ragoussis, Oxeco is a chemistry technology (chemtech) company that designs, develops, and manufactures surface treatments for the transport and clean technology sectors. The company’s technology platform, ONTO™, improves the way materials interact in their intended environment by leveraging reactive carbenes to control the adhesion and wetting properties of surfaces. The technology optimizes the surface treatment of painted products and allows designers to modify the surface of materials to develop novel products.
One of the company’s partners, a producer of finished composite parts, has been using the technology to solve bottlenecks in the painting of automotive parts for Fortune 500 companies and to maximize an existing workforce and space.