Lingrove Raises $10M for Carbon-Negative Interiors

San Rafael, CA-based Lingrove, a leader in composite materials, has successfully raised $10 million in a recent funding round led by Lewis & Clark Agrifood and Diamond Edge Ventures. With support from Bunge Ventures and SOSV, the company aims to revolutionize the construction industry with its innovative product, ekoa®.

Lingrove, under the leadership of CEO Joseph Luttwak, is at the forefront of creating a carbon-negative alternative to conventional construction materials. The company’s composite material, ekoa®, is a natural, durable, and carbon-negative solution that can replace wood, plastics, and metal in various interior applications, ranging from walls and cabinetry to furniture and automotive finishes.

“We are thrilled to have the support of a dream investor syndicate, which brings global expertise in bio-feedstocks, composites, and manufacturing and shares our vision of a new industrial revolution powered by fast-growing plants. The journey won’t be easy, but together, we can improve indoor air quality and the planet’s health by making ekoa® accessible to all,” said Lingrove’s CEO Joseph Luttwak.

Series B Funding Boosts Production

The oversubscribed Series B round, led by Lewis & Clark Agrifood and Diamond Edge Ventures, with participation from Bunge Ventures and SOSV, will enable Lingrove to increase the production of ekoa® significantly.

The company’s mission is to reinvent and decarbonize the trillion-dollar renovation and new construction materials market, offering high-performance and environmentally friendly interiors.

Suhas Narayanaswamy, Principal of Lewis & Clark AgriFood, said, “We are very optimistic about the growth of sustainable materials and products that meet the high-performance requirements of the market and are priced competitively. We co-led this round because Lingrove is poised to be a category-defining company transitioning to a circular economy.”

Made from carbon-negative plant fibers, ekoa® has the potential to sequester billions of tons of CO2 annually.

Lingrove aims to combat climate change and contribute to a healthier planet by replacing plastics, metals, and wood with this renewable-sourced product. The high-performance ekoa® has already garnered significant interest, with millions in pre-orders secured, applications in wall and cabinetry installations, and advanced materials testing in the automotive sector.

Ekoa®, A Game-Changer for Interiors

Lingrove’s ekoa® is a pioneering solution for architects, designers, builders, and manufacturers, offering interiors that are not only aesthetically pleasing but also environmentally friendly. Despite facing challenges in the fundraising environment, Lingrove successfully secured strategic financing to propel its vision of creating high-performance, carbon-negative interiors.

Lingrove’s commitment to sustainability and innovation is evident in its production of ekoa®. With the recent funding injection, the company will significantly impact the construction industry by providing a cost-effective, clean alternative for interior applications. Lingrove’s ekoa® represents a step towards a more sustainable future, addressing climate change by using fast-growing plants and creating functional and eco-friendly interiors.

“We are excited to co-lead this round and continue our partnership with Lingrove, a company reinventing building materials with their ekoa® surfaces and panels. We look for companies with potential positive environmental, financial, and strategic returns, and Lingrove is a perfect fit for our mission,” said Curtis Schickner, President of Diamond Edge Ventures.

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