# Polyx Material Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/polyx-material-technology

- Industry: Materials
- Headquarters: Hefei, China
- Website: www.co2polymer.com
- Total disclosed funding: $28M
- Latest round: Series B (Dec 14, 2023)
- Investors on record: 5

## About

Established in 2017 and based in Hangzhou, China, Polyx Material Technology is a material company that focuses on the research and development of CO2-based materials. It has more than ten invention patents. The company's team members came from Zhejiang University. Hongbing Mao, the founder of the company, graduated from Zhejiang University with a major in polymer. In April 2024, Polyx Material Technology closed a series B+ funding.

Polyx Material Technology specializes in the manufacturing of CO2-based materials, with independent intellectual property rights of the CO2 new material polymerization process. Its products include CO2 polyol, propylene carbonate, catalysts, and degradable plastics, which can be used in the fields of foam materials, elastomers, artificial leather, coatings, and paints. The CO2 polyol contains advantages of excellent solvent compatibility, polyol compatibility, etc.

The company generates revenue by providing CO2-based materials and related products.

The company will use the series B+ funds for innovative technology R&D and working capital replenishment.

## Funding rounds

- Series B, Dec 14, 2023, $28M — CNPC Assets Management, Bohuiyuan Venture Capital, Anhui Zhongan Capital Management, Hefei State-Owned Assets Holding, Anshu Capital

## Investors

- CNPC Assets Management — Series B
- Bohuiyuan Venture Capital (https://capitalatlas.ai/funds/bohuiyuan-venture-capital) — Series B
- Anhui Zhongan Capital Management (https://capitalatlas.ai/funds/anhui-zhongan-capital-management) — Series B
- Hefei State-Owned Assets Holding (https://capitalatlas.ai/funds/hefei-state-owned-assets-holding) — Series B
- Anshu Capital (https://capitalatlas.ai/funds/anshu-capital) — Series B