Bioformix, a developer of energy efficient sustainable monomer and polymer platforms, announced that it has closed a $13.6 Million Series A-1 round of funding. The new round was led by Braemar Energy Ventures and includes Arsenal Venture Partners, Mitsui Global Investment (MGI) and other strategic investors. Bioformix will use the funding to expand its operations, including R&D, production and commercial sales.
Bioformix is developing a broad new class of energy efficient, biologically benign by design monomers, resins and polymers utilizing proprietary new monomer chemistry. Bioformix’s breakthrough chemistry enables a vast array of plastics, polymers, and resins that polymerize with little or no energy at high speeds. The technology offers enhanced performance and allows manufacturers across a broad range of industries to reduce energy consumption in their processes. The company’s broad platforms are flexible, providing a wide range of applications including inks, composite binders, fibers, adhesives, and packaging materials.