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Novoloop is making tons of upcycled plastic
Novoloop recently raised a $21 million Series B to begin building its first commercial scale plastic upcycling plant.
On the heels of its demo production run, Novoloop has raised a $21 million Series B to finalize the design of its first commercial scale plant and begin construction, the company exclusively told TechCrunch. The new round was led by Taranis, an investment fund owned by oil-and-gas company Perenco, with participation from Valo Ventures and Shop Limited. Novoloop previously raised a$21 million Series A, which helped the company refine its process to the point where running shoe manufacturer On used its upcycled material for the tread of its Cloudprime sneaker.
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