Calyxia, an industrial B2B Cleantech innovator, certified B Corp, specializing in advanced and biodegradable microcapsules and microparticles for use in Consumer Goods, Crop Protection and Advanced Materials, announced that it has raised €31.5 million in a Series B funding round. The round was led by Lombard Odier Investment Managers, through its Plastic Circularity Fund and Bpifrance, through its Large Venture Fund, with strong support from existing investors including Astanor.
This new capital will enable Calyxia to achieve profitability, deploy globally its innovative manufacturing technology, and establish itself as the leader in a market exceeding $10 billion by 2030.
More specifically, with the backing of this new funding round and of the France 2030 program, Calyxia plans to expand its commercial and industrial operations, beginning with the establishment of new headquarters and a second production site in the Paris Region by Q1 2025. This new facility will increase production capacity to 3,000 tons per year, paving the way for Calyxia to achieve profitability and establish its position as the market leader.
“Our customers are eager to reduce the environmental impact of their products, but they often face trade-offs with performance and profitability, which hinders widespread adoption,” said Jamie Walters, CEO and Co-Founder of Calyxia. “This investment will accelerate the widespread deployment of our products, allowing manufacturers to reduce plastic pollution and GHG emissions, whilst boosting their product performance and profitability, unlocking impact at scale.”
Tech against microplastics
Calyxia recently installed and qualified its first fully operational factory in 2023, and has secured commercial partnerships for mass-volume industrial applications with leading companies in Agriculture, Consumer Care and Advanced Materials markets.
Founded in 2015 by a group of scientists from Harvard University (USA), ESPCI-Paris PSL (France) and Cambridge University (UK), Calyxia, is an Industrial B2B CleanTech Innovator, certified B Corp, that has developed a proprietary and eco-designed manufacturing technology to produce the world’s first advanced performance and sustainable microparticle and microcapsule products.
Christopher Tritten, Head of Private Assets and CIO at Lombard Odier Investment Managers, added: “We are thrilled to support Calyxia through the Lombard Odier Plastic Circularity Fund. Their groundbreaking technology offers an innovative approach to tackling microplastic pollution, and we believe they have the potential to scale and become a leader in the sector. This aligns perfectly with our commitment to investing in companies that are building a more sustainable future.”
Cindy Ung, Investment Director at Bpifrance Large Venture, commented: “Bpifrance, through its Large Venture Fund, is very proud to support Calyxia in this new stage of its development. Calyxia is at the forefront of creating solutions that enhance product performance while addressing global carbon and plastic pollution. We are confident that the company will become a leader in its field, contributing to France’s reindustrialization plan supported by Bpifrance.”
Hans Marteau, Managing Partner at Astanor, adds: “At Astanor, we are dedicated to backing visionary companies that are redefining the future of agrifood tech and sustainability. Calyxia’s groundbreaking microcapsule technology not only addresses the urgent challenges of microplastic pollution and GHG emissions but also offers transformative solutions for the Agriculture sector. By enhancing product performance and sustainability across multiple industries, Calyxia is at the forefront of creating a more sustainable and profitable future. We are proud to continue our support as they scale their innovative solutions globally.”
Read the orginal article: https://www.eu-startups.com/2024/09/paris-based-calyxia-raises-e31-5-million-series-b-to-help-global-manufacturers-fight-plastic-pollution/
