EcoSynthetix Raises $7.2M from U.S. Backers, Much More from Abroad

11/29/10

EcoSynthetix has garnered more support from both domestic and international investors, according to an SEC filing. The Lansing, MI-based company—which applies its “green chemistry” to make latex and other materials from renewable resources—said it has raised $7.2 million from U.S. investors in an equity funding round.

The filing does not list the investors in the financing. However, it does note that the $7.2 million that the firm reports in the filing under Rule 506 represents equity sold to U.S. investors only, and that the total equity sold was more than $30 million. “The remainder of the issue was sold [outside] of the U.S.,” the company stated.

A message was left this morning for Robert Haire, the firm’s chief financial officer.

EcoSynthetix announced in January of this year that it had raised $10.1 million in a Series A-3B round of equity financing led by Canaccord Financial. Founded in 1996, EcoSynthetix has also attracted investments from 401 Capital Partners, Cargill Ventures, Delta Northern Rivers Fund, H.B. Fuller Ventures, H.J.G. Partnership, Nadal Investments, Northern Rivers Innovation Fund, and VentureLink Diversified Balanced Fund.

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