Adept Materials, a Somerville, a MA-based advanced materials startup, raised $4M in the first tranche of its Seed funding.
The round was led by D.R. Horton and PulteGroup, joined by Massachusetts Clean Energy Center (MassCEC), and Point Cove LLC.
Led by CEO Derek Stein, Adept Materials is a materials company whose patented technology advances moisture, humidity, and thermal management. This technology can be applied across a range of settings — including buildings, textiles, packaging and healthcare — to address the challenges that moisture and humidity present.
The company intends to use the funds to accelerate the commercial launch of its first product, an advanced interior wall paint and primer system, and the development of a directional water-resistive barrier product. This effort includes running pilots in collaboration with Adept’s strategic investors to demonstrate the technical performance of its products.
FinSMEs
06/08/2024