Genecis Bioindustries Inc. raised US$10 million in funding to accelerate the commercialization of biodegradable plastic products derived from waste materials.
Information on the Target
Genecis Bioindustries Inc. is a Canadian biotechnology company specializing in the production of biodegradable plastics from waste materials. The company focuses on creating polyhydroxyalkanoates (PHAs), which are recognized for their ability to mimic the functional properties of traditional petroleum-based plastics while being environmentally sustainable. Utilizing a unique approach to biomanufacturing, Genecis employs recombinant bacteria to convert food waste into cost-effective and tunable PHAs, aligning with the growing demand for eco-friendly materials.
The team's innovative methods not only emphasize sustainability but also aim to utilize existing infrastructure, such as biogas plants, ensuring a scalable and efficient production process. Genecis is a proud graduate of the Y Combinator incubator program and has garnered recognition through multiple international awards, including first place in the 2020 Extreme Tech Challenge.
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Industry Overview in Canada
The biodegradable plastics industry in Canada is experiencing significant growth, driven by increasing consumer awareness and government regulations aimed at reducing plastic waste. With the pressing need to address environmental concerns related to plasti
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Khosla Ventures, BDC Capital
invested in
Genecis Bioindustries Inc.
in 2022
in a Series A deal
Disclosed details
Transaction Size: $10M
Equity Value: $7M