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Polystyvert secures $16M in a Series B funding round to revolutionize polystyrene recycling and build its first commercial plant in Québec

PRIVATEJul 08, 2024

Amount Raised

$16 Million

Round Type

Series B

MontrealManufacturing

Investors

North American Investors

Description

Polystyvert has secured over $16 million in the first tranche of a Series B funding round, with plans to raise up to $30 million. The funding will enable the company to construct its first commercial plant in Québec, dedicated to recycling highly contaminated polystyrene waste and solidify its position as a leader in the field of styrenic plastics circularity.

Who else raised in Manufacturing around the same time

Companies in the same sectors as Polystyvert that raised within 45 days of this round, from Fundz verified event records.

  • Lucid Group raised $1.5B (Convertible Note) on August 7, 2024.
  • Hangyo Ice Creams raised $25M (Funding Round) on August 22, 2024.
  • Uviquity raised $6.7M on August 22, 2024.
  • Endovia Health Sciences, Inc. raised $600K (Seed) on August 22, 2024.
  • Vandria raised $31M (Series A) on August 21, 2024.
  • NxtQube raised an undisclosed amount (Seed) on August 21, 2024.

Who to call at Polystyvert, and when

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Company Information

Company

Polystyvert

Location

Montreal, Quebec, Canada

About

Polystyvert is a Montreal-based clean technology company that is revolutionizing plastic recycling by implementing a circular economy. Through its unique process of dissolution-based recycling and low-temperature, low-pressure purification, Polystyvert can recycle and purify plastic waste that is typically considered non-recyclable due to high contamination. The result is a recycled raw material of unparalleled purity that can replace virgin plastics while reducing greenhouse gas emissions (GHGs) by up to 90% in an economical manner, meeting the needs of various sectors.

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Funding Insights

What this usually means
Timeline to next round
Series B companies typically work for 15-20 months before raising new capital
Growth expectations
Series B companies are expected to scale rapidly and expand market reach

Polystyvert raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

145 of these a day, filtered to the companies you pick, with the decision-maker attached.

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