Woodoo raises $31M to use discarded wood as a construction material
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Woodoo, a biotechnology startup that transforms discarded wood into alternatives for construction material, has raised $31 million in funding.
The Paris-based company said it can use discarded wood as an alternative to leather, glass, concrete and steel.
Lowercarbon Capital, a multi-billion-dollar climate tech fund led by investor Chris Sacca, led the round. One Creation, a Swiss-based investment firm; Purple, institutional partners; and some of Europe’s most successful startup entrepreneurs also participated in the round.
The company will use the new capital to scale its technology platform from luxury goods to commodity building materials that outperform steel and concrete in strength, weight, look, and cost.
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Woodoo’s technology takes low-grade and even diseased wood products and uses its proprietary engineering platform to transform them into premium high-tech materials. This transformation takes place at the molecular level through lignin engineering using locally sourced substandard feedstock.
It comes at a critical time, the company said.
“As shortages of raw inputs and historic breakdowns in global supply chains threaten our economic and national security, Woodoo’s biological alchemy allows us to rebuild core industries with carbon-negative ingredients we can source from right here in Europe,” said CEO and founder Timothée Boitouzet, an architect and chemist whose vision is to replace carbon-intensive legacy industries with
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