Bioformix, a Cincinnati, OH-based developer of energy efficient sustainable monomer and polymer platforms, has closed a $13.6m Series A-1 funding.
The round was led by Braemar Energy Ventures, with participation from Arsenal Venture Partners, Mitsui Global Investment (MGI) and other unnamed strategic investors.
The company intends to use the capital to expand its operations, including R&D, production and commercial sales.
Founded by President and CEO Adam Malofsky, CTO and Chief Scientist Bernard Malofsky, and Steve Levin of Acara Global, Bioformix uses a proprietary new monomer chemistry to develop a vast array of plastics, polymers, and resins that polymerize with little or no energy at high speeds. Applications include inks, composite binders, fibers, adhesives, and packaging materials.
The company operates a research facility in Newington, CT.
FinSMEs
13/03/2012