- Checkerspot announced it raised $55 million in Series C funding. These are the details.
Checkerspot – a biotechnology company with an award-winning design and innovation lab – announced the closing of a $55 million Series C financing led by ArrowMark Partners with participation from Cox Enterprises and other new and existing investors. Allen & Company LLC advised Checkerspot on the transaction. The funding will accelerate Checkerspot’s development and commercialization of high-performance, biobased alternatives for everyday products.
Checkerspot previously launched a line of performance outdoor recreation products under its consumer brand WNDR Alpine (Wonder Alpine). And WNDR Alpine animates and de-risks the adoption of biobased materials – developed with Checkerspot’s technology – that can be used across a wide range of industries. Specifically, WNDR’s backcountry skis and snowboards are made with Checkerspot’s microalgae-derived oils that are formulated into polyurethane foams and cast urethanes, engineered to meet specific performance metrics in a highly demanding category.
Plus the company has also developed technology to upcycle waste from ski and snowboard manufacturing, leading to the creation of SpiralMade material, a unique composite with a variety of applications in hardgoods fabrication.
The latest funding will accelerate Checkerspot’s expansion into new and adjacent markets including industrial applications, personal care, and food and nutrition. And reducing global dependence on fossil fuels requires innovation and collaboration. Checkerspot is committed to launching new products and forging commercial partnerships so that consumers can adopt high-performance, biobased materials and ingredients at scale.
