InventWood, a Frederick, MD-based firm reworking wooden into superwood constructing merchandise, raised $8M in funding.
Backers included Grantham Basis, Builders Imaginative and prescient, Echelon, John Rockwell, and current investor.
The corporate intends to make use of the funds to broaden operations and its growth efforts.
Led by newly appointed CEO Tyler Huggins, Ph.D., InventWood has developed a proprietary know-how stack that transforms wooden into high-performance climate-resilient superwood constructing merchandise which can be stronger and lighter than metal with larger sturdiness and aesthetics.
The corporate is planning its business launch in early 2025 with two key priorities: establishing its scaled provide chain, and commissioning its pilot manufacturing facility able to profitably producing as much as a million sq. ft of product yearly.
FinSMEs
08/08/2024
