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Venture Capital News: Prometheus Materials Raises $8M in Series A

2022-06-06
BOULDER, CO, Prometheus Materials, a leader in zero-carbon building materials, has closed its $8 million Series A financing round, led by Sofinnova Partners.
Prometheus Materials, a leader in zero-carbon building materials, has closed its $8 million Series A financing round. The round was led by Sofinnova Partners, a leading European life sciences venture capital firm based in Paris, London, and Milan, with participation by the Microsoft Climate Innovation Fund, Skidmore, Owings & Merrill (SOM), GAF, and The Autodesk Foundation.

Prometheus Materials delivers sustainable building materials that accelerate the world's transition to a carbon-negative future. Inspired by biological processes found in nature, the company has developed a technology that uses naturally occurring microalgae to produce a bio-cement that offers an affordable, strong, and durable alternative to carbon-intensive portland cement. When mixed with aggregate, this bio-cement creates a zero-carbon building material with the mechanical, physical, and thermal properties comparable or, in some cases, superior to portland cement-based concrete.
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