Paris-based biotechnology startup Woodoo has raised $31 million in funding to expand its technology platform that transforms discarded wood into alternatives for construction material.
The company’s proprietary engineering platform enables it to transform low-grade and even diseased wood products into premium high-tech materials, using lignin engineering at the molecular level.
The new capital will be used to scale the technology platform from luxury goods to commodity building materials that outperform steel and concrete in strength, weight, look, and cost.
The company has already garnered attention from leading customers across its three product lines: automotive, luxury, and construction, and its technology has laid the manufacturing and supply chain foundation to take on the construction industry next.
Woodoo has entered into a commercial and technical partnership with Garnica, a European leader in industrialized wood construction.
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