Boston Materials, a Billerica, MA-based high-performance materials company, raised $12m in Series A2 funding.
The round was led by Good Growth Capital with participation from GS Group and PTT Global Chemical, as well as previous investors including ACCELR8, Valo Ventures and ACVC Partners and new investors Gatemore Venture Partners.
The company intends to use the funds to support its continued growth, increasing manufacturing and engineering operations at the new factory in Billerica MA, and expanding product adoption with existing and new customers.
Led by CEO Anvesh Gurijala, Boston Materials is a high-performance materials company enabling manufacturers of industrial and consumer products to break through their design trade-offs with new materials. Known for its patented Z-axis Fiber™ technology, a lightweight material produced from 100% reclaimed carbon fiber with significant energy dissipation properties, Boston Materials enables manufacturers of industrial and consumer products to create energy-efficient products that have a low carbon footprint. The manufacturing scale of Z-axis Fiber enables Boston Materials to formulate products for a wide range of applications that are cost-effective to deploy at high volumes.
Prior to this round, Boston Materials had raised $14.8m, bringing the company’s total funding to date to $26.8m. Since the first round of fundraising, the company has tripled its employee headcount, with plans to create a significant number of new jobs in the near future to support ongoing growth.
FinSMEs
03/11/2022