French internet startup Woodoo announced that it has received $31 million, with Lowercarbon Capital, a fund co-founded by Chris Sacca, a former Google employee and early Twitter investor, serving as the lead investor.
The 2017-founded company Woodoo claims that their technique can transform subpar and even infected wood products into premium high-tech materials that can be utilised to create surfaces, panels, and other luxury goods.
The campaign to raise money for Woodoo brings attention to the expanding significance of businesses engaged in raw material recycling for environmental protection as well as the expansion of France's IT industry.
President Emmanuel Macron stated last year that he hoped to see a significant increase in the number of French tech "unicorns" or start-ups by 2030.
As a centre for technology and finance, Paris has historically trailed behind New York, California, and London, although the French technology sector has recently recorded numerous high-profile funding rounds for select startups.
A new industrial age and a net-zero society are made possible by Woodoo Augmented Wood. How? Wood can be converted into sustainable, high-performance substitutes for steel, glass, leather, and plastics at the molecular level without endangering the health of our world.
The most notable clients in each of our three product categories—automotive, luxury, and construction—have already acknowledged the value of Woodoo's technology. Our product line includes everything from touch-sensitive timber interfaces and automobile smart surfaces to elegant, animal-free 'leather' accessories and ultra-high mechanical structural solutions for the building sector.
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