InventWood, a Frederick, MD-based company transforming wood into superwood building products, raised $8M in funding.
Backers included Grantham Foundation, Builders Vision, Echelon, John Rockwell, and existing investor.
The company intends to use the funds to expand operations and its development efforts.
Led by newly appointed CEO Tyler Huggins, Ph.D., InventWood has developed a proprietary technology stack that transforms wood into high-performance climate-resilient superwood building products that are stronger and lighter than steel with higher durability and aesthetics.
The company is planning its commercial launch in early 2025 with two key priorities: establishing its scaled supply chain, and commissioning its pilot production facility capable of profitably producing up to one million square feet of product annually.
FinSMEs
08/08/2024