# Renmatix

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

- Industry: Materials
- Headquarters: King of Prussia, US
- Website: www.renmatix.com
- Total disclosed funding: $115M
- Latest round: Series E (Jul 8, 2016)
- Investors on record: 3

## About

Renmatix, Inc. specializes in converting biomass into sustainable materials using innovative technology, offering high-purity lignin, cellulosic sugars, and natural polyols primarily for industries aiming for eco-friendly solutions.Founded in 2007 in King of Prussia, US, Renmatix, Inc. focuses on the transformation of biomass into valuable materials. The company has successfully completed 7 deals, with the latest investment round in September 2016 raising USD 14 mn from Total Gas & Power USA and an individual investor. The firm is led by CEO Glenis and Mike Hamilton, with founder Prasuna Kuppa having a background in similar ventures.Renmatix is primarily focused on the innovative transformation of biomass into valuable materials through its proprietary Plantrose technology. Core product offerings include high-purity lignin, cellulosic sugars, and natural polyols, which are derived from renewable biomass sources, particularly woody residues. These products serve the needs of several hard-to-abate industries, including aviation fuel, construction materials, and various chemicals, addressing the growing demand for sustainable alternatives to fossil-fuel-derived materials. Specifically, their lignin products, such as Omno® lignin, are designed for applications in lightweight building materials and wood adhesives, while cellulosic sugars facilitate pathways for the production of Sustainable Aviation Fuel (SAF) and other biochemicals. Renmatix's products are aimed at markets in North America and Europe, where there is a strong focus on decarbonization and sustainable industrial practices.Renmatix generates revenue through the sale of its proprietary plant-based materials and the licensing of its Plantrose technology to potential partners and biorefinery operators. The business transactions involve B2B partnerships where clients purchase bulk quantities of high-purity lignin, cellulosic sugars, and natural polyols for use in their manufacturing processes. These transactions are structured as contractual agreements that outline the terms of supply and pricing, enabling clients to incorporate Renmatix’s sustainable materials into their products. Key revenue streams are supported by long-term contracts with companies in sectors such as aviation, construction, and chemicals, which value the environmental benefits and functionality of Renmatix's offerings. The company’s flagship products are utilized in numerous applications, further solidifying its position within the market.Renmatix plans to leverage the USD 14 mn raised in September 2016 to expand its product offerings and enhance its technology capabilities. The company aims to develop new products that further optimize the use of biomass for sustainable applications, targeting launch in the next two years. Additionally, Renmatix is looking to expand its market presence in Europe and Asia by 2025, focusing on regions with increasing demand for sustainable industrial solutions.

## Funding rounds

- Series E, Jul 8, 2016, $31M — Kleiner Perkins, BASF
- Series D, Feb 19, 2015, $11M — Kleiner Perkins, BASF, Waste Management Service Center, Inc.
- Series C, Dec 19, 2011, $50M — Kleiner Perkins, BASF
- Series B, Oct 17, 2008, $15M — Kleiner Perkins
- Series A, Dec 4, 2007, $7.1M — Kleiner Perkins

## Investors

- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series A, Series B, Series C, Series D, Series E
- BASF (https://capitalatlas.ai/funds/basf) — Series C, Series D, Series E
- Waste Management Service Center, Inc. — Series D