# Poet

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/poet

- Industry: Renewable Energy
- Headquarters: Sioux Falls, US
- Website: www.poet.com
- Total disclosed funding: $6M
- Latest round: Series D (Dec 1, 1998)
- Investors on record: 6

## About

Poet LLC is a South Dakota-based company specializing in renewable, plant-based bioproducts that cater to the growing demand for sustainable alternatives across various industries. Founded in the US in 1987, Poet LLC focuses on producing renewable, plant-based bioproducts. The company has undergone strategic pivots to enhance its operations. On February 11, 1999, Poet raised USD 3.9 mn in VENTURE DEBT financing from KfW Banking Group, raising the total funding amount to USD 6.0 mn. The company has successfully completed 2 deals to date.POET specializes in the production of renewable, plant-based bioproducts, including environmentally friendly fuels, animal feed ingredients, and biochemicals, all developed through rigorous research and innovation. Their products serve multiple end-use cases, from renewable energy to livestock feed, ultimately aiming to reduce reliance on fossil fuels and enhance agricultural practices. POET caters to a diverse client base that includes agricultural producers, food manufacturers, and energy companies, targeting markets across North America and expanding into global arenas. The company is committed to achieving carbon neutrality by 2050, supporting a cleaner future.In 2013, POET generated a revenue of USD 2,227,326.20 and had an EBITDA of USD 842,118. Their revenue model is based on direct sales to various industries, primarily operating on a B2B structure. Transactions typically occur through contracts with agricultural entities, food processors, and energy firms, establishing a consistent flow of business. Their product offerings include biofuels and feed ingredients, marketed for their eco-friendly attributes.Poet Software is focused on expanding its product lines and geographical reach. The company plans to introduce new biofuel products by 2024 and aims to penetrate the European market more aggressively by the end of 2025. The recent funding of USD 3.9 mn from KfW Banking Group will be utilized to support product development and market expansion initiatives.

## Funding rounds

- Series D, Dec 1, 1998, $6M — Atlas Venture, El Dorado Ventures, Innovacom, Lawrence Group, Private Equity Holding, Sigma Partners

## Investors

- Atlas Venture (https://capitalatlas.ai/funds/atlas-venture) — Series D
- El Dorado Ventures (https://capitalatlas.ai/funds/el-dorado-ventures) — Series D
- Innovacom (https://capitalatlas.ai/funds/innovacom) — Series D
- Lawrence Group — Series D
- Private Equity Holding (https://capitalatlas.ai/funds/private-equity-holding) — Series D
- Sigma Partners — Series D