Cocoon, a London, UK-based climate technology company, raised $5.4M in Pre-Seed funding.
The round was led by Wireframe Ventures, Celsius Industries (fka UNTITLED), Gigascale Capital and SOSV.
The company intends to use the funds to scale its engineering and science teams, accelerate commercialization efforts, and build an industrial lab and demonstrator plant in the UK.
Led by co-founders Eliot Brooks, Will Knapp, and Freddie Scott, Cocoon offers modular technology that turns the by-product of green steel into a low-emissions substitute for cement making it possible for the steel and concrete industries to decarbonize faster together. The company, which combines expertise in geology, engineering, and materials science, is collaborating with a number of cement manufacturers to validate their slag-based cementitious material and will complete construction of a demo with a UK steel plant by the end of 2024, supported in part by $1 million in grants from Innovate UK.
FinSMEs
08/08/2024