cycleWood Solutions, Inc. closed on its $550,000 equity financing round. The round was subscribed by Trailblazer capital a seed and early-stage investment boutique focusing on companies based in Texas, Oklahoma and Arkansas. Trailblazer invests between $500,000 and $5 million in each portfolio company.
The company is using a patented technology to create biodegradable and compostable thermoplastic. The financing round will enable the company to finalize the development of “XyloBag”, a cheap plastic bag alternative designed for everyday-use which breaks down into humus in 150 days. The technology can be applied to a variety of commercial plastics including cup and plates.
The company, headquartered in Fayetteville AR, originally founded in November 2010 was converted into a Delaware corporation in September 2011. The company is lead by Nhiem Cao (President and CEO) and Kevin Oden (COO).