Founded in 2015 by a group of scientists from Harvard University (USA), ESPCI Paris PSL (France) and Cambridge University (UK), Paris-based Calyxia designs and manufactures biodegradable microparticles and microcapsules. Positioned in the field of advanced and eco-responsible chemistry, the company combines pioneering technologies in chemistry and emulsion science to develop new solutions. The startup recently raised $35 million in a Series B financing round.
Used to functionalize chemical ingredients critical to the performance of cosmetics, cleaning products and agricultural inputs, traditional microcapsules are based on non-biodegradable microplastics that can accumulate in the environment. Calyxia is developing eco-designed, biodegradable microcapsules to replace them. With its technology, the company is also able to improve the performance and durability of organic polymers, composites, adhesives, inks and paints.
Calyxia has recently installed and started up its first plant in 2023, and has established commercial partnerships for large-scale industrial applications. Thanks to this new round of financing and the support of the France 2030 program, Calyxia plans to expand its commercial presence and industrial operations by setting up its new headquarters and a second production site in the Paris region by the first quarter of 2025. This will increase the company's production capacity to 3,000 tonnes per year.
"Our customers are looking to reduce the environmental impact of their products, but this often comes up against the imperatives of performance and profitability, which hinders the widespread adoption of biodegradable solutions.said Jamie Walters, CEO and co-founder of Calyxia. This investment will accelerate the deployment of our products on a large scale, enabling our industrial customers to combat microplastic pollution while improving the performance and profitability of their products. We are delighted to partner with renowned investment funds who share our commitment to deploying sustainable technologies and transforming industries. Together, we are ready to tackle some of the most important environmental and industrial challenges of our time."
Calyxia benefits from a favorable context, with the European Commission passing a law in October 2023 banning the intentional addition of microplastics in Europe, with similar regulations worldwide set to follow.
The September 2024 financing round was led by Lombard Odier Investment Managers, via its Plastic Circularity fund, and Bpifrance, via its Large Ventures fund, bringing cumulative financing since the company's inception to $70 million.
