Novoloop: Raises $11M in Series A Funding

Novoloop Raises $11M in Series A Funding

• Novoloop, a Menlo Parck, CA-based upcycling startup, raised $11M in Series A funding
• The round was led by Envisioning Partners with participation from Valo Ventures, Bemis Associates, SOSV, Mistletoe, and TIME Ventures
• The company intends to use the funds to complete pilot scale-ups and commercialize its process technology
• The platform delivers chemicals and materials made from plastic waste through their patented, low-carbon upcycling technology process ATOD™
• The first product based on the company’s ATOD process is Oistre™ (OYST-rah), a thermoplastic polyurethane (TPU) for use in high-performance applications
• The company also announced joint development partnership with Bemis Associates to convert plastic waste into performance products