CA-based Composite Materials Company Lingrove Secures $10M in Series B Round Funding. This round was led by Lewis & Clark AgriFood and Diamond Edge Ventures, with participation from Bunge Ventures and SOSV.
The funding enables Lingrove to ramp up production of ekoa®, a natural, durable, and carbon-negative alternative to conventional materials used in construction.
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Made from carbon-negative plant fibers, high-performance ekoa® can sequester billions of tons of CO2 per year by replacing plastics, metals, and wood with a renewable-sourced product. Lingrove aims to reinvent and decarbonize the trillion-dollar renovation and new construction materials market, making interiors healthy, beautiful, and climate-friendly.
Lingrove’s CEO Joe Luttwak said, “We are thrilled to have the support of a dream investor syndicate, which brings global expertise in bio-feedstocks, composites, and manufacturing, and shares our vision of a new industrial revolution powered by fast-growing plants. The journey won’t be easy, but together, we can improve indoor air quality and the health of the planet by making ekoa® accessible to all.”
Curtis Schickner, President of Diamond Edge Ventures said, “We are excited to co-lead this round and continue our partnership with Lingrove, a company reinventing building materials with their ekoa® surfaces and panels. We look for companies with potential positive environmental, financial, and strategic returns, and Lingrove is a perfect fit for our mission,”.</strong
Suhas Narayanaswamy, Principal of Lewis & Clark AgriFood added, “We are very optimistic in the growth of sustainable materials and products that meet the high-performance requirements of the market and are competitively priced. We co-led this round because Lingrove is poised to be a category-defining company in the transition to a circular economy.”
Lingrove’s ekoa® is a pioneering solution for architects, designers, builders, and manufacturers: interiors that are both high-performance and environmentally friendly for the first time. Despite a challenging fundraising environment, Lingrove successfully secured strategic financing to foster a better future through fast-growing plants, starting with healthy and beautiful interiors.
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About Lingrove
Lingrove’s mission is to create high performance, carbon-negative interiors to combat climate change. The company’s high-performance composite ekoa® can replace wood, plastics and even metal in most interior applications from walls and cabinetry to furniture and automotive finishes, offering a cost-effective, clean product that ensures healthy indoor air and commercial-grade quality.
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