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Serious Materials gets $50 million to get serious about manufacturing
Serious Materials, which has come up with a formula for eco-friendly drywall, has landed $50 million to build factories.
New Enterprise Associates, Foundation Capital and Rustic Canyon Partners participated in the second round of financing for the company, according to CEO Kevin Surace. Previously, Serious raised $5.5 million. The fact that the company was closing a large funding round came out earlier this summer.
The company's product is the equivalent of Jell-O instant pudding of the clean-tech set. Most drywall is made from gypsum baked at high temperatures. The cooking process releases substantial amounts of carbon dioxide. By … Read more
