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OVP Leads $14M Novomer Round

Wade Roush 8/17/09

According to an announcement expected this Wednesday, Kirkland, WA-based OVP Venture Partners is the lead funder in a $14 million Series B venture round for Boston-based Novomer, which is developing ways to manufacture “green” polymers from renewable materials such as carbon dioxide. The startup, which we profiled in November 2007, was founded in Ithaca, NY, and moved to Boston last fall. Joining the Series B round, which brings the company’s total funding to $21 million, are existing investors Physic Venture Partners, Flagship Venture Partners, and DSM Venturing. OVP managing director Carl Weissman will join Novomer’s board.

Wade Roush is Xconomy's chief correspondent. You can e-mail him at wroush@xconomy.com, call him at (617) 252-7323, or follow him on Twitter at http://twitter.com/wroush.

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