France based Calyxia secures USD 35M in Series B funding

Calyxia, a B2B Cleantech company specializing in biodegradable microcapsules and microparticles for Consumer Goods, Crop Protection, and Advanced Materials, has raised USD 35 million in a Series B funding round. The investment was led by Lombard Odier Investment Managers’ Plastic Circularity Fund and Bpifrance’s Large Venture Fund, with additional support from existing investor Astanor. This investment increases Calyxia’s total funding to USD 70 million.

Calyxia installed and qualified its first fully operational factory in 2023 and has secured commercial partnerships for large-scale applications in Agriculture, Consumer Care, and Advanced Materials. The new capital will support Calyxia in achieving profitability and strengthening its position in a market projected to exceed USD 10 billion by 2030. Specifically, the funding, along with support from the France 2030 development program, will enable Calyxia to expand its operations, starting with new headquarters and a second production site in the Paris Region by Q1 2025. This new facility is expected to increase production capacity to 3,000 tons per year.

“Our customers are eager to reduce the environmental impact of their products, but they often face trade-offs with performance and profitability, which hinders widespread adoption,” said Jamie Walters, CEO and Co-Founder of Calyxia. “This investment will accelerate the widespread deployment of our products, allowing manufacturers to reduce plastic pollution and GHG emissions, whilst boosting their product performance and profitability, unlocking impact at scale. We are excited to partner with such a world-class group of investors who share our commitment to scaling sustainable technologies and transforming industries. Together, we are poised to address some of the most pressing environmental and industrial challenges of our time.”

Christopher Tritten, Head of Private Assets and CIO at Lombard Odier Investment Managers added: “We are thrilled to support Calyxia through the Lombard Odier Plastic Circularity Fund. Their groundbreaking technology offers an innovative approach to tackling microplastic pollution, and we believe they have the potential to scale and become a leader in the sector. This aligns perfectly with our commitment to investing in companies that are building a more sustainable future.”

Laetitia de Panafieu, Investment Principal, adds: “At Astanor, we are dedicated to backing visionary companies that are redefining the future of agrifood tech and sustainability. Calyxia’s groundbreaking microcapsule technology not only addresses the urgent challenges of microplastic pollution and GHG emissions but also offers transformative solutions for the Agriculture sector. By enhancing product performance and sustainability across multiple industries, Calyxia is at the forefront of creating a more sustainable and profitable future. We are proud to continue our support as they scale their innovative solutions globally.”

Founded in 2015 by scientists from Harvard University (USA), ESPCI-Paris PSL (France), and Cambridge University (UK), Calyxia is a B2B CleanTech company that has developed an eco-designed manufacturing technology for advanced microparticle and microcapsule products. These products are intended to replace traditional microplastics used in industries such as cosmetics, laundry care, and crop protection. This development aligns with recent European regulations banning intentionally added microplastics, with similar global regulations expected. Calyxia’s products also improve the performance and sustainability of composites, coatings, resins, and adhesives in sectors including renewable energy, electronics, and automotive, helping to reduce plastic pollution and lower the carbon footprint of manufacturing.

Also read: IISc researchers develop Hydrogel to remove microplastics from water