A first close of $500,000 was initiated by BioMASON on its fundraising effort started this month. 86% of the $583,000 non-brokered equity offering was placed with two investors. The offering will remain open for a year during which the company may raise an additional $83,000. Up to this point BioMASON had raised an estimated $20,000 via one financing round.
The company develops building materials using natural microorganisms and chemical processes to manufacture biological cement-based masonry products. The company manufactures for now bricks which are grown instead of fired which in turn reduces carbon dioxide pollution while preserving energy resources.
The company, headquartered in Research Triangle Park NC, was registered in 2012. BioMASON elected not to disclose its revenues.
The executive team includes Ginger K. Dosier (Founder). The board of directors includes Edison T. Hudson and Michael F. Noel.
Status: First close
Amount offered: $583,000
Amount placed: $500,000