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- Trusscore, a materials science company that manufactures sustainable and improved alternatives to traditional building products, announced it has raised C $ 26 million. These are the details.
Trusscore, a materials science company that manufactures sustainable and improved alternatives to traditional building products, announced it has raised C $ 26 million in Series A funding. The investment was led by Round13 Capital of its Earth Tech Fund newly created which will support companies with complementary environmental and commercial mandates.
This investment will allow Trusscore to accelerate its growth by strengthening its research and development, sales and marketing capabilities and to develop additional manufacturing capacity to meet growing product demand. And Trusscore uses advanced nanotechnology and materials science to create better performing building products, including its innovative Trusscore Wall & CeilingBoard, a high-strength polymer alternative for drywall that aims to deflect some of the millions of tons of drywall that end up in landfills every year.
Over the past 18 months, Trusscore has extended its success in the agricultural and commercial sectors to the residential market where its products have been used as an alternative to drywall in spaces such as basements, garages and any domestic space in need of finishing. smooth and durable that is easy to maintain and can withstand wet or wet conditions. And Trusscore Wall & CeilingBoard installs 4 times faster than drywall and is designed to outlast the structures in which it is installed.
Trusscore has been named one of Canada’s Fastest Growing Companies for 8 consecutive years by Canadian Business. The company had raised C $ 5.33 million in an oversubscribed seed funding round in May 2020.
Four months later, the company announced a partnership with HGTV home improvement experts Bryan and Sarah Baeumler. And in July, Trusscore expanded its manufacturing and distribution capability by acquiring Westech Building Products of Calgary, complementing manufacturing operations in Dayton, Ohio and Palmerston, Ontario.
The increase is also a milestone for Round13, as Trusscore is the first investment from its Earth Tech Fund.
KEY QUOTES:
“At Trusscore, we believe that the only future is a sustainable future. We are determined to help change the environmental impact of the construction industry with sustainable products that help build a better future for generations to come. This investment in Trusscore will be the engine of our growth. Our focus on innovation and materials science generates real demand for our sustainable alternatives to traditional building materials.
– Trusscore CEO Dave Caputo
“Our new Earth Tech Fund is our first environmental, social and corporate governance (ESG) fund. We created it specifically to accelerate the growth of companies that are committed to the environment and have sustainability as a strategic business imperative. As a company that is disrupting the status quo in a traditional industry that causes millions of tonnes of waste every year, Trusscore is the perfect first investment to launch this fund. With Dave at the helm and his vision for both the company and the construction industry as a whole, Trusscore is uniquely positioned to be successful.
– Round13 Capital General Partner Craig Strong
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