DURHAM – A Triangle startup that aims to deliver carbon negative materials for new home construction has closed nearly $13.6 million in new funding, according to a securities filing.
Durham-based Plantd, Inc. has raised a combination of equity and debt including shares of Series A Convertible Preferred Stock, according to a filing.
According to the filing, 31 investors participated in the round, with the company raising a total of $13,599,984.
CEO and co-founder Joshua Dorfman signed the filing, which is dated on Wednesday. Dorfman also serves on Governor Roy Cooper’s North Carolina Entrepreneurship Council and has co-founded Simbly as well as worked for an Amazon-acquired company Vine.com, according to a LinkedIn profile. He also served as the CEO of Asheville-based The Collider.
The company’s website notes that the firm is developing “carbon negative materials for every new home and building on earth” and plans to “transform renewable grass into durable building materials.”
According to the company’s website, their technology can produce the same amount of building materials while boosting quality and reducing impact by 9 times.
Plantd was among the 26 finalists for an NC IDEA SEED Grant in the Fall 2021 cycle. The Triangle remains among the top areas in the United States for new home construction.
NC IDEA picks 26 semi-finalists from across NC for $50,000 grants
