RWDC Industries nabs $188.42m in series B funding round

The company will use the funding to meet growing demand for PHA.

Biotech startup RWDC Industries Limited closed its two-stage series B funding round at $188.42m (US$133m), according to an announcement.

The new investment was co-led by venture capital firm Vickers Venture Partners, energy and resources company Flint Hills Resources, CPV/CAP Pensionskasse Coop, and International SA.

RWDC will use the funding to meet growing demand for PHA, recognised as the only commercially viable biodegradable bioplastic. The funds will also be used to expand the company’s production capacity with a new facility in Athens, Georgia, and to conduct research and development efforts.

Other participating investors include existing investors Eversource Retirement Plan Master Trust and WI Harper Group.