Key Takeaways:
- Calyxia Raises $35 Million: The Series B funding round was led by Lombard Odier Investment Managers and Bpifrance, with support from existing investors like Astanor.
- Focus on Sustainability: Calyxia develops biodegradable microcapsules and microparticles that aim to reduce plastic pollution and greenhouse gas emissions across multiple industries.
- Expansion Plans: The funds will be used to expand commercial and industrial operations, including the establishment of a new headquarters and second production site by Q1 2025.
- Market Leadership Goal: Calyxia aims to become a leader in the microcapsule and microparticle market, valued at over $10 billion by 2030.
Calyxia Raises $35 Million in Series B Funding
Calyxia, an industrial B2B cleantech innovator, has announced the successful completion of a $35 million Series B funding round. The round was led by Lombard Odier Investment Managers, through its Plastic Circularity Fund, and Bpifrance, via its Large Venture Fund. Existing investors, including Astanor, also participated in the round. Calyxia specializes in advanced, biodegradable microcapsules and microparticles, providing sustainable solutions for industries such as Consumer Goods, Crop Protection, and Advanced Materials.
Scaling Operations and Expanding Commercial Partnerships
Calyxia, founded in 2015 by scientists from Harvard University, ESPCI-Paris PSL, and Cambridge University, has developed proprietary technology for producing biodegradable microparticles and microcapsules. The company recently qualified its first operational factory in 2023, securing commercial partnerships with leading companies across various sectors.
With the new capital, Calyxia plans to accelerate its expansion globally. The company will begin by establishing new headquarters and a second production facility in the Paris Region by Q1 2025. This new production site is expected to increase production capacity to 3,000 tons per year, setting the company on a path to profitability. The expanded facilities will enable Calyxia to meet the growing demand for its products and position itself as a leader in a market projected to exceed $10 billion by 2030.
Addressing Environmental Challenges and Enhancing Product Performance
Calyxia’s biodegradable products are designed to reduce the environmental impact of traditional microplastic-based ingredients, which are widely used in cosmetics, laundry care, and crop protection. According to Jamie Walters, CEO and Co-Founder of Calyxia, the company’s products enable manufacturers to improve the sustainability of their offerings without sacrificing performance or profitability.
“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 while boosting their product performance and profitability,” Walters said.
Calyxia’s solutions are also applicable to sectors such as renewable energy, electronics, and automotive industries. The company’s products enhance the durability of composites, coatings, resins, and adhesives, reducing material breakdown and improving sustainability across various applications.
Investor Support and Commitment to Sustainability
The Series B funding reflects strong investor confidence in Calyxia’s mission and technology. Christopher Tritten, Head of Private Assets and CIO at Lombard Odier Investment Managers, expressed enthusiasm for the company’s potential to address global challenges related to microplastic pollution. “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,” Tritten stated.
Bpifrance also highlighted its commitment to Calyxia’s development. Cindy Ung, Investment Director at Bpifrance Large Venture, emphasized the company’s role in France’s reindustrialization plan, stating, “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.”
