BioMason, an award-winning startup for its sustainable building materials technology, is now reaping investors and venture capital along with cash awards.
The RTP-based startup has raised $1.5 million from three investors, according to a securities filing. The deal is for equity and options,
And BioMason isn’t done.
The firm looks to raise $3 million in the round.
That’s a lot more than the $520,000 BioMason raised in 2013.
The company, led by CEO Ginger Dosier, has earned numerous awards, such as $125,000 for the Cradle to Cradle Product Innovation Challenge.
“BioMason is going to be a highly disruptive technology for the built environment, with a lot of potential for widespread adoption across the world,” president of Cradle to Cradle Products Innovation Institute Bridgett Luther said in a statement announcing that honor in 2013.
BioMason has developed a way to “grow” cement-based building materials using bacteria. Making clay and concrete requires high heat. But bioMASON’s process works in ambient temperatures, saving energy. In comparison to traditional masonry product, bioMASON bricks are just as strong. The company hopes that introduction of its technology into construction material product lines will reduce global carbon emissions.
The company’s early investors include Acorn Investments, which is based in Durham.
BioMason also won a $670,000 prize for taking top prize in the Postcode Lottery Green Challenge backed by Richard Branson.
BioMason is based at the First Flight Venture Center in RTP.