In brief: Singapore biotech startup raises $13m to produce plastic alternative

Singapore-headquartered biotech startup RWDC Industries announced today that it has successfully closed a US$13 million Series A2 round co-led by venture capital firms Vickers Venture Partners and WI Harper Group. Finance firm Ridgevale Enterprises Limited and individual investors also participated in the round.

Series A2 funds will primarily be used to expand RWDC’s PHA (polyhydroxyalkanoate) production capacity in the US to 2,000 tonnes per year, making it among the world’s largest PHA producers by early 2019.

RWDC develops innovative and cost-effective biopolymer material solutions. In particular, the company produces medium-chain-length PHAs, which are naturally produced by bacterial fermentation of plant-based oils or sugar, and are widely recognized as the world’s only commercially viable biodegradable bioplastic due to its versatility.

Source: RWDC’s press release

RWDC’s product has been certified to be fully biodegradable in soil and water. It dissipates within weeks, leaving behind no toxic traces.

“From microplastics in the arctic sea ice to once-pristine beaches in Thailand and Philippines being shut down, not only is plastic pollution at a negative tipping point but the world needs solutions and education on this topic,” said Peter Liu, chairman of WI Harper Group.