Novoloop completed $21 million Series A Round funding
Sector:
Cleantech
06/02/2022
Menlo Park, CA USA
Novoloop
completed $21 million Series A Round funding. Investors include
Mistletoe (lead), Envisioning Partners, SOSV, Time Ventures, Valo Ventures.
Novoloop uses its proprietary ATOD™ technology to make high-performance chemicals and materials from polyethylene, which is the most commonly used yet least recycled plastic. Their first product, Oistre™ (pronounced OYST-rah), is the world's only thermoplastic polyurethane (TPU) made from post-consumer waste that matches the performance of TPUs derived from petrochemicals. "This round brings together mission-driven financial investors and industry strategics who believe in our vision of a circular economy for plastics," said CEO Miranda Wang. "We're thrilled to make that vision a reality by leveraging their access to resources and markets around the world."
About
Novoloop is a circular innovation company transforming hard-to-recycle plastics with its proprietary Lifecycling™ technology. By chemically upcycling post-consumer polyethylene into high-performance, low-carbon polyols and polyurethanes, Novoloop enables sustainable materials for applications in footwear, apparel, automotive, and more. Founded in 2015 and based in California, the company has raised over $50 million and holds 50 granted and pending patents across 18 regions. Novoloop’s Lifecycled™ TPU debuted in On’s Cloudprime sneaker in 2022, and in 2025, the company was named one of TIME’s World’s Top Greentech Companies.
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