Led · Series A · Jun 2022

Novoloop has developed a process that breaks down polyethylene waste into monomers and synthesizes higher-value thermoplastic polyurethane (TPU) branded as Lifecycled TPU. The company completed a demonstration plant test run capable of producing up to 70 metric tons per year and reports strong demand — "literally every time we make something, we’re sold out," CEO Miranda Wang said. Its material has been used by running-shoe maker On for the tread of the Cloudprime sneaker. Novoloop says the upcycled material is more expensive than virgin TPU but "within range." The firm has also added a business line mechanically recycling TPU factory scraps and adding performance enhancers to make recycled TPU perform more like virgin material. On the heels of the demo run, Novoloop is preparing plans for a larger commercial facility and is evaluating building alongside existing chemical plants to leverage land and utilities. Novoloop develops proprietary ATOD (Accelerated Thermal Oxidative Decomposition) chemistry to upcycle polyethylene and other plastic waste into high-performance chemicals and materials, including its first product Oistre, a thermoplastic polyurethane (TPU). The TPU targets durable applications such as shoes, apparel, sporting goods, electronics and automotive components and the company says its product can have up to a 46% smaller carbon footprint versus conventional TPUs. Founded in 2015 by Jeanny Yao and Miranda Wang, Novoloop plans to scale its chemical process above the 1 metric ton scale and to establish a feedstock pretreatment unit in California later this year to accelerate pilot customer deliveries. The startup has disclosed total funding of $24 million, including an $11 million Series A earlier in February and a $10 million Series A extension reported here. Strategic partners and investors are expected to support process development, feedstock sourcing and market access as the company moves toward commercialization. Novoloop emphasizes creating a circular economy for plastics by turning contaminated, low-grade post-consumer waste into commercially usable materials. Novoloop has developed a proprietary process called ATOD™ (Accelerated Thermal Oxidative Decomposition) to break down polyethylene into chemical building blocks that can be synthesized into high-performance products. Its first commercial product is Oistre™, a recycled thermoplastic polyurethane (TPU) aimed at footwear, apparel, sporting goods, automotive and electronics markets. The company says Oistre can have a carbon footprint up to 46% smaller than conventional TPUs. Novoloop was founded and is led by two scientists, Jeanny Yao and Miranda Wang, who have worked on the technology for over five years. The company is partnering with Bemis Associates for product applications such as seam tapes in high-performance outerwear. Novoloop positions itself to compete with incumbent TPU producers like BASF, Covestro, Lubrizol and Huntsman and to disrupt an industry where roughly 99% of TPUs are made from virgin fossil feedstocks.

Led · Series B · Mar 2022

Finless Foods develops cell-cultured and plant-based seafood alternatives with an initial focus on bluefin tuna. The company is constructing a Bay Area pilot facility to produce its first saleable cell-cultured bluefin tuna and is pursuing regulatory approval to enable sales and consumption. It plans to nationally launch its plant-based tuna into U.S. foodservice in 2022 and to explore international distribution in Asia while expanding its plant-based seafood portfolio. The company will use new funding to expand its team, deepen technical R&D, and build business capabilities to transition from R&D to a food company. Finless also aims to drive down the price of cell-cultured bluefin tuna to reach parity with conventional tuna and to reduce pressure on wild-capture tuna stocks. The company convenes an Impact Board of ocean and sustainable seafood experts and was the first to serve cell-cultured fish in the United States. Finless Foods, founded in 2017 by biochemists Michael Selden and Bryan Wyrwas, develops real fish meat grown from stem cells. The company uses cellular-agriculture technologies to grow marine-animal cells and is initially producing bluefin tuna. It aims to create more sustainable seafood without the environmental devastation or health hazards of traditional fishing and aquatic farming. Based in San Francisco, CA, Finless Foods raised $3.5M in seed funding. The company intends to use the funds to finalize its initial R&D phase and move into production, pending the closing of a Series A.

Led · Equity · Nov 2021

Lancium Technologies builds and operates "Clean Campuses" that combine purpose-built substations, flexible load management and clean energy integration to support hyperscale AI and cloud computing demand. Its first site, the 1.2-gigawatt Lancium Clean Campus in Abilene, Texas, will anchor the Stargate initiative—a planned U.S. network of sustainable, hyperscale AI data centers backed by technology and investment partners such as SoftBank, OpenAI, Oracle and MGX. The company positions its platform at the intersection of high-capacity compute and renewable power, aiming to deliver lower-carbon, cost-effective digital infrastructure. Proceeds from its latest financing will fund construction and operation of the Abilene facility while enabling future campus developments across Texas and beyond. Lancium’s model is designed to attract AI and cloud providers that require massive, reliable and increasingly green power. Though specific revenue or user metrics were not disclosed, the 1.2 GW capacity underscores the scale of its ambitions. The company’s clean energy focus aligns with growing market demand for sustainable compute infrastructure.

Led · Series A · Sep 2021

New Age Meats develops meat from animal cells, starting with a variety of pork sausages as its first product offering. The company plans to begin production of those sausages next year and expects to go to market in 2022 pending U.S. Food and Drug Administration approval. The $25 million Series A will fund doubling the workforce, expanding R&D and building a 20,000-square-foot pilot manufacturing facility in Alameda. New Age Meats says it will eventually move into other meat categories such as beef and chicken and sees demand from pork-consuming markets like Asia. CEO Brian Spears, a chemical engineer who co-founded the company in 2018 after 12 years developing research laboratory and industry automation, said the firm aims to deliver scalable, affordable and authentic meat experiences. The company is positioning itself amid growing interest and venture investment in cultured meat. New Age Meats develops cultivated pork products with an initial focus on bringing a cultivated pork sausage to market. The company is building a pilot facility and working to scale product development and production. Management plans to expand its Food Science department and implement more automation and robotics. The startup aims to continue driving down the cost of its first product. New Age Meats was founded in 2018 and is based in Berkeley, Calif. Current financing described in the article is a $2M seed extension to support these operating and development goals. New Age Meats is a Berkeley-based cultivated meat company founded in 2018 by CEO Brian Spears. The company develops technology to make meat from animal cells rather than animal slaughter, applying automation and data science to stem cell research and bioreactor optimization. It is a graduate of IndieBio's accelerator program. New Age Meats closed a $2.7M seed funding round to support its operations. The company intends to use the funds to grow the team, invest in automation equipment, and iterate its cultivators. No operating metrics were disclosed in the article. New Age Meats is a US-based, only a few months old startup focused on research and development of cultured meat (clean meat). The company is a member of IndieBio’s Accelerator Program and has been granted $250,000 in financial capital. Its core product development includes laboratory-grown "Farm-Free" pork sausages made from pig cells. The startup invited a small group to taste-test three types of its lab-grown sausage; Business Insider reporter Erin Brodwin wrote, "It tasted like meat. On the other hand, it is meat. The texture was clearly sausage-like." New Age Meats aims to counter traditional animal agriculture with innovative, slaughter-free cultivated products. Other companies mentioned in the same field include Mosa Meat, Aleph Farms and Just.