Calyxia, an industrial B2B cleantech company specializing in advanced and biodegradable microcapsules and microparticles for use in consumer goods, crop protection and advanced materials, announced that it has raised $35 million in a Series B funding round. The funding round was led by Lombard Odier Investment Managers, through its Plastic Circularity Fund and Bpifrance, through its Large Venture Fund, with strong support from existing investors including Astanor.
Calyxia has recently installed and qualified its first fully operational factory last year and has secured commercial partnerships for mass-volume industrial applications with leading companies in agriculture, consumer care and advanced materials markets. And this new funding round will enable Calyxia to achieve profitability, deploy its innovative manufacturing technology globally, and establish itself as the leader in a market exceeding $10 billion by 2030.
With the new funding, Calyxia plans to expand its commercial and industrial operations, establishing new headquarters and a second production site in the Paris Region by Q1 2025. And this new facility will increase production capacity to 3,000 tons per year, paving the way for Calyxia to achieve profitability and establish its position as the market leader.
Launched in 2015 by a group of scientists from Harvard University (USA), ESPCI-Paris PSL (France) and Cambridge University (UK), Calyxia has developed a proprietary and eco-designed manufacturing technology to produce the world’s first advanced performance and sustainable microparticle and microcapsule products. And Calyxia products uniquely combine biodegradability, advanced performance and cost-effectiveness, enabling manufacturers to replace traditional microplastic microcapsules and microparticles based ingredients that are currently widely used and critical to the performance of cosmetics, laundry care and crop protection products. The company has major tailwinds as the European Commission passed a law in October 2023 banning intentionally added microplastics in Europe, with regulators across the world preparing similar restrictions.
Plus, Calyxia’s products significantly advances the performance and sustainability of composites, coatings, resins and adhesives) used in sectors such as renewable energy, electronics, automotive, etc. And by preventing material breakdown and significantly increasing material durability, Calyxia is making a major impact in reducing plastic pollution and lowering the manufacturing carbon footprint across the plastic value chain.
KEY QUOTES:
“Our customers are eager to reduce the environmental impact of their products, but they often face trade-offs with performance and profitability, which hinders widespread adoption. This investment will accelerate the widespread deployment of our products, allowing manufacturers to reduce plastic pollution and GHG emissions, whilst boosting their product performance and profitability, unlocking impact at scale. We are excited to partner with such a world-class group of investors who share our commitment to scaling sustainable technologies and transforming industries. Together, we are poised to address some of the most pressing environmental and industrial challenges of our time.”
– Jamie Walters, CEO and Co-Founder of Calyxia
“We are thrilled to support Calyxia through the Lombard Odier Plastic Circularity Fund. Their groundbreaking technology offers an innovative approach to tackling microplastic pollution, and we believe they have the potential to scale and become a leader in the sector. This aligns perfectly with our commitment to investing in companies that are building a more sustainable future.”
– Christopher Tritten, Head of Private Assets and CIO at Lombard Odier Investment Managers
“Bpifrance, through its Large Venture Fund, is very proud to support Calyxia in this new stage of its development. Calyxia is at the forefront of creating solutions that enhance product performance while addressing global carbon and plastic pollution. We are confident that the company will become a leader in its field, contributing to France’s reindustrialization plan supported by Bpifrance.”
– Cindy Ung, Investment Director at Bpifrance Large Venture
“At Astanor, we are dedicated to backing visionary companies that are redefining the future of agrifood tech and sustainability. Calyxia’s groundbreaking microcapsule technology not only addresses the urgent challenges of microplastic pollution and GHG emissions but also offers transformative solutions for the Agriculture sector. By enhancing product performance and sustainability across multiple industries, Calyxia is at the forefront of creating a more sustainable and profitable future. We are proud to continue our support as they scale their innovative solutions globally.”
– Laetitia de Panafieu, Investment Principal
