Temasek co-leads $95m round of SG biotech firm

Singapore- and US-based RWDC Industries, a startup producing sustainable plastic alternatives, has secured US$95.1 million in its most recent round of funding.

More funding details

• Lead investors: Vickers Venture Partners and Temasek
• Other investors: Switzerland’s CPV/CAP Pensionskasse Coop, Hong Kong’s Optimas Global Healthcare Fund, and unnamed existing shareholders
• Stage: Series B2

More company updates

• RWDC will use the new capital to expand its production capacity of PHA material – an alternative to fossil fuel-based plastics – in the US to 50 kilotons per year.
• The company is also in talks with authorities in Singapore about securing a site in the city-state, which would make it the first such facility in the region.
• The new capital comes after RWDC raised US$133 million last year as part of a two-stage series B round. (Read: Does this $133m bet on biodegradable ‘plastic’ hold water?)
• RWDC’s latest round brings its total funds raised to US$208 million.

For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.