# Spiderwort

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

- Industry: Materials
- Headquarters: Ottawa, Canada
- Website: www.spiderwortbio.com
- Total disclosed funding: $16M
- Latest round: Series A (Jul 12, 2022)
- Investors on record: 11

## About

Spiderwort Inc. is a biotechnology firm specializing in innovative plant-based biomaterials for regenerative medicine, particularly in neurology and aesthetic applications.Founded in 2015 in Ottawa, Canada, Spiderwort Inc. focuses on developing biomaterials for medical applications. The company has completed 3 deals, with their most recent funding round taking place on July 12, 2022, where they raised USD 13.2 mn in Series A funding led by Horizons Ventures, alongside other investors. The company was co-founded by Andrew Pelling, Charles Cuerrier, and Daniel Modulevsky, with Charles Cuerrier serving as CEO.Spiderwort Inc. specializes in innovative plant-based biomaterials aimed at revolutionizing regenerative medicine. Its primary products include CelluBridge® and CelluJuve®, which utilize cellulose-based technology for medical applications. CelluBridge® acts as a scaffold for spinal cord tissue repair, while CelluJuve® is a dermal filler for aesthetic enhancements. These products are being developed for healthcare facilities, clinics, and aesthetic practices across North America and international markets.Spiderwort Inc. generates revenue through a direct-to-consumer model, focusing on healthcare providers and clinics that use their specialized products. The company sells its flagship products, CelluBridge® and CelluJuve®, directly to medical practitioners and institutions, integrating these biomaterials into treatment protocols. The revenue model is structured around unit sales tailored to the needs of clients, fostering partnerships with medical and aesthetic practices.In July 2022, Spiderwort Inc. raised USD 13.2 mn in Series A funding, which will be utilized to transition from pre-clinical studies to clinical trials. The company aims to introduce new products for regenerative medicine and expand into healthcare markets across North America and potentially beyond, focusing on clinics and healthcare providers. This funding supports the strategic development of their biomaterials, enhancing their application in various medical settings.

## Funding rounds

- Series A, Jul 12, 2022, $13M — Horizons Ventures, Capital Angel Network, Anges Québec, BoxOne Ventures, K5 Global, Break Off Capital
- Seed, May 27, 2020, $2.5M — Horizons Ventures, Ontario Centre of Innovation, Capital Angel Network, National Research Council of Canada Industrial Research Assistance, Ontario Brain Institute, Anges Québec, Groupe Roski, Break Off Capital
- Angel, Jun 10, 2019, $0.4M — Creative Destruction Lab

## Investors

- Creative Destruction Lab (https://capitalatlas.ai/funds/creative-destruction-lab) — Angel
- Horizons Ventures — Seed, Series A
- Ontario Centre of Innovation (https://capitalatlas.ai/funds/ontario-centre-of-innovation) — Seed
- Capital Angel Network — Seed, Series A
- National Research Council of Canada Industrial Research Assistance — Seed
- Ontario Brain Institute — Seed
- Anges Québec — Seed, Series A
- Groupe Roski — Seed
- Break Off Capital (https://capitalatlas.ai/funds/break-off-capital) — Seed, Series A
- BoxOne Ventures (https://capitalatlas.ai/funds/boxone-ventures) — Series A
- K5 Global (https://capitalatlas.ai/funds/k5-global) — Series A