Tracxn - Advanced Materials Startup Landscape"

Copyright © 2019, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Advanced Materials - Apr 2019
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News

Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on April 19, 2019.
Advanced Materials Feed Summary
4
Advanced Materials > Feed Summary
Companies developing materials which outperform traditional materials with superior properties such as
superconductivity, ability to memorise shape, response to environmental stimuli, etc.
• Inclusions: Companies developing materials which exhibit
advanced phenomena such as magnetostriction,
superparamagnetism, superconductivity, etc. Also includes
materials which are not naturally found on earth and are
engineered to foster improved applications, such as
biomimetics, electronic textile, smart glass, etc.
• Exclusions: Companies developing end-products using any
of the advanced materials; companies which may not be
producing a material with their own IP and only provide
services such as distribution, outsourced manufacturing,
consultancy, etc. Also excludes non-commercial research
organisations and companies with horizontal offerings.
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$4.4B
Funding
33
Mega
Companies
235524
FundedCovered on
Tracxn
3
Unicorns
7
Soonicorns
18
Minicorns
32
IPO’d Cos
90
Late Stage Cos
31
26
Acquisitions
24
DeadPooled
-
Acquihired
Series A+ Cos
Directa Plus
(2005, Lomazzo, $10.3M)
View
(2007, Milpitas, $1.75B)
AGC Glass Company
(1907, Tokyo)
Top Companies

Investment Trend Summary
Summary of Funding Activity in Advanced Materials
5
$1.1B - Series H
View (2007, Milpitas, $1.7B)
$29M - Series B
Echodyne (2014, Bellevue, $44M)
$200M - Series G
$23.6M - Series C
Kinestral Technologies (2010, Hayward,
$259M)
$124M - Series D
Bolt Threads (2009, Emeryville, $214M)
$10M - Series F
Nanosys (2001, Palo Alto, $189M)
$100M - Series D
$259M)
$9.7M - Series B
NanoXplore (2011, Montreal, $13.1M)
$44M - Series D
Spiber (2007, Tsuruoka, $197M)
$9.6M - Series C
NanoSteel (2002, Providence, $64.5M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Advanced Materials > Feed Summary > Investment Trend Summary
Seed Breakout Labs (#2), Parkwalk (#1), Orios Venture Partners (#1)
Series A/B In-Q-Tel (#2), Evonik Venture Capital (#2), Lux Capital (#1)
Series C+
Mitsubishi UFJ Capital (#1), Versant Ventures (#1), 5AM Ventures
(#1)
Incubators Plug and Play Tech Center (#10), MassChallenge (#4), SOSV (#4)
Other Notable
Investors
UK Government (#3), Small Business Innovation Research (#2),
Sustainable Development Technology Canada (#2)
Debt Investors
Mercia Technologies (#2), NXT Ventures (#2), Connecticut
Innovations (#1)
Most Active InvestorsRecent Investments
43
35
24 23
3
2014 2015 2016 2017 2018 2019*
Y-o-Y # of Companies Founded 50 52 36 32 51 7
$4.1B
$176M
$103M
$77.5M
$11.5M
US
Japan
Canada
Europe
Israel
$ Funding
$112M
$246M
$486M
$88M
$504M
$1.4B
$336M
21
2014 2015 2016 2017 2018 2019*
$ Funding # Rounds

Summary of exit outlook in Advanced Materials
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Herald Investment
Management
2
Haydale (2010, Swansea)
AXT (1986, Fremont)
ARCH Venture
Partners
1 Nanophase (1989, Romeoville)
IP Group 1
Applied Graphene Materials (2010, Redcar,
$1.9M)
Almi 1 Svenska Aerogel (2000, Gavle, $2.3M)
Arcapita 1 Aspen Aerogel (2001, Northborough, $121M)
Sep 2018 Gnanomat Acq by Versarien for $3.4M
Jan 2017 Cambridge Graphene Acq by Versarien for $210k
Nov 2016 QD Vision Acq by Samsung for $70M
Jan 2016 EpiWorks Acq by II-VI Incorporated for $43M
Jul 2015 Ecopol Acq by World Green
Jun 2014 CerePlast Acq for $2.6M
Apr 2008 Lumilog Acq by Saint Gobain
Advanced Materials > Feed Summary > Exit Outlook Summary
Saint Gobain 2 Lumilog (Apr 2008), SageGlass (May 2012)
Versarien 2
Gnanomat (Sep 2018, $3.4M), Cambridge Graphene (Jan
2017, $210k)
Samsung 1 QD Vision (Nov 2016, $70M)
Air Liquide 1 Voltaix (Jun 2013)
II-VI
Incorporated
1 EpiWorks (Jan 2016, $43M)
Recent IPOs Top Acquisitions
Haydale Apr 2014
Functionalization of graphene, carbon nan…
IPO MCap: $39.5M
Applied Graphene Materials Nov 2013
Manufacturer of graphene
IPO MCap: $42.2M
U-PICA Jul 2013
Developer of saturated polyester and epox…
IPO MCap: -
Elcora May 2012
Developed a vertically integrated process…
IPO MCap: $636k
Nanollose Oct 2017
Developers of fiber based on nanocellulos…
IPO MCap: $11.8M
Directa Plus May 2016
Technology partners for Consumer and Indu…
IPO MCap: $48.6M
Nanoco Group May 2015
Provides display technology solutions bas…
IPO MCap: $383M
Aspen Aerogel Jun 2014
Thermal insulation solutions
IPO MCap: $253M

Marketmap: Advanced Materials
META MATERIALS
Ad
Mt
TEXTILE
TEXTILE
ELECTRONIC TEXTILES
SMART MATERIALS
SHAPE MEMORY ALLOYS
SMART FLUIDS
MAGNETOSTRICTIVE
SMART GLASS
NANOTECHNOLOGY
QUANTUM DOTS
AEROGELS
GRAPHENE & CNTS
METAL-BASED
MAGNETOCALORIC
AMORPHOUS METAL
SUPERALLOY
BIOMATERIALS
BIODEGRADABLE POLYMERS
BIO-NANOPARTICLES
BIOMIMETICS
SEMICONDUCTORS
GROUP III-V COMPOUNDS
GERMANIUM-BASED
Overview
Companies 524
Funded 235 Series A+ 90
Funding $4.4B Last 2 yrs $1.9B
Most Active Investors
Seed Breakout Labs (2)
Series A/B In-Q-Tel (2)
Series C+ Mitsubishi UFJ Capital (1)
Others UK Government (3)
Incubators Plug and Play Tech Center (10)
Top Cities
Bay Area 29 Cos $2.7B
Tsuruoka 1 Cos $176M
Feed in Numbers
Unicorns 3 Soonicorns 7
Minicorns 18 Editor Picks 82
Acquihired - Deadpooled 24
Top Companies
AGC Glass Company (1907, Tokyo)
Directa Plus (2005, Lomazzo, $10.3M)
Exits
IPOs 32 Nanoco Group, Aspen
Aerogel
Acquisitions 26 QD Vision, EpiWorks
Top Acquirers Saint Gobain, Versarien
Advanced Materials > Feed Summary > BlueBox
FACTSHEET
Funding data excludes Debt, Grants & Post-IPO rounds.
Excludes all details for Chinese companies.
7

Key Sub Sectors in Advanced Materials Sector
Summary of Key Markets
8
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Nanomaterials >
Graphene 104 $33.5M 17
Textile >
Sustainable Fabrics 40 $180M 10
Smart Materials >
Smart Glass 33 $1.4B 8
Biomaterials >
Biodegradable Polymers 49 $24.5M 8
Nanomaterials >
Carbon Nanotubes 40 $30.3M 6
Nanomaterials >
Quantum Dots 28 $23.6M 5
Textile 34 $16M 6
Nanomaterials >
Metal-Based 30 $15.4M 3
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Smart Materials
Materials with the ability to respond to external
stimuli such as stress, temperature,...
48 17 $2.2B
Nanomaterials
Companies developing or manufacturing carbon or
metal based nano-materials like CNT,...
261 105 $1.1B
Textile
Companies developing or manufacturing textile with
advanced features such as anti-stain,...
79 35 $596M
Biomaterials
Companies developing or manufacturing new
biomaterials with advanced properties
86 55 $389M
Metamaterials
Companies developing or manufacturing materials
engineered to have properties not found...
8 6 $72.5M
Semiconductors
Companies providing unique semiconductor materials
to be used for manufacturing integrated...
20 11 $70.1M
Superconductors
Materials exhibiting superconductivity, i.e., attaining
zero electrical resistance when...
5 1 $22.2M
Advanced Materials > Feed Summary > Summary of Key Markets

List of Notable Companies in Advanced Materials
Notable Companies in the Sector
9
Note: *(Founded Year, Location, Total Funding)
Advanced Materials > Feed Summary > Notable Companies in the Sector
Public
Liquidmetal
(1987, Rancho Santa Margarita)*
Nanoco Group
(2001, Manchester)
Graphene NanoChem
(2006, Camberley)
Aspen Aerogel
(2001, Northborough, $121M)
AXT
(1986, Fremont)
Directa Plus
(2005, Lomazzo, $10.3M)
Applied Graphene
Materials
(2010, Redcar, $1.9M)
Haydale
(2010, Swansea)
Nanollose
(2014, Nedlands)
Elcora
(2011, Halifax)
Public
EcoSynthetix
(1996, Toronto, $29.2M)
Superconductor
Technologies
(1987, Austin, $22.2M)
Svenska Aerogel
(2000, Gavle, $2.3M)
AGC Glass Company
(1907, Tokyo)
First Graphene
(1920, Nedlands)
First Graphene
(1920, Nedlands)
Tex-Ray Industrial
(1978, Taipei)
Ferrotec
(1980, Santa Clara)
G-Smatt Global
(2000, Seoul)
Lenzing
(1939, Lenzing)
Public
NovoCarbon
(2017, Concord)
Quantum Materials
(2007, San Marcos)
Saint Jean Carbon
(1997, Calgary)
Applied Nanotech
(1989, Austin)
U-PICA
(1977, Chiyoda-ku)
Bourque Industries
(1978, Phoenix)
ARCHITECTURE IN
GLASS LIMITED
(1984, Gurgaon)
CerePlast
(2004, Seymour)
CRAiLAR Fiber
Technologies
International
(1998, Vancouver)
Public
Nanophase
(1989, Romeoville)
Platinum Nanochem
(2012, Kuala Lumpur)
Smart Glass
(1965, New York City)
Unicorns
View
(2007, Milpitas, $1.7B)

List of Notable Companies by Market in Advanced Materials
Notable Companies by Market (1/6)
11
Advanced Materials > Feed Summary > Notable Companies by Market
Metal-Based
Amorphous Metal
Liquidmetal (1987, Rancho Santa Margarita)
Developer of metal alloys
Editor's Pick. Stage: Public
Mobility Ventures
Biomaterials
Biodegradable Polymers
NatureWorks (1997, Minnetonka, $150M)
Manufactures bio-polymers for 3D printing
Soonicorn. Stage: Series A
Department of Energy, PTT Global Chemical
EcoSynthetix (1996, Toronto, $29.2M)
Bio-based binder polymers
Stage: Public
Sustainable Development Technology Canada,
Canaccord Genuity Group, Invest Michigan and 4
Other Investors
U-PICA (1977, Chiyoda-ku)
Developer of saturated polyester and epoxy acrylate
resin
Stage: Public
CerePlast (2004, Seymour)
Develops and manufactures biobased, compostable
bioplastic resins
Stage: Acquired
Semiconductors
Group III-V Compounds
AXT (1986, Fremont)
Compound semiconductor substrate manufacturers
Soonicorn. Stage: Public
Fortune Venture Investment Group, Herald
Investment Management

12
Nanomaterials
Multi-category
Applied Nanotech (1989, Austin)
Develops and manufactures nano materials
Stage: Public
Graphene
Manufactures graphene and develops new
materials using them.
Soonicorn. Stage: Series B
BDC
Technology partners for Consumer and Industrial
Graphene based product manufacturers
Minicorn. Stage: Public
Club degli Investitori, Quadrivio, Como Venture and
4 Other Investors
Applied Graphene Materials (2010, Redcar,
$1.9M)
Stage: Public
Herald Investment Management, IP Group,
Northstar Ventures and 1 Other Investors
First Graphene (1920, Nedlands)
Developer of graphene material
Graphene
Developer of graphene for multiple applications
Saint Jean Carbon (1997, Calgary)
Graphene-based products provider for Lithium
batteries
Stage: Public
Functionalization of graphene, carbon nanotubes
and graphene-infused 3D printing filament
Development Bank of Wales, Octopus Investments,
Herald Investment Management
Elcora (2011, Halifax)
Developed a vertically integrated process to refine
graphite with higher yield of graphene
Stage: Public

13
Nanomaterials
Graphene
Graphene NanoChem (2006, Camberley)
Technology commercialization company operating
in two divisions Advanced materials & advanced
chemicals
Stage: Public
Kumpulan Modal Perdana
Platinum Nanochem (2012, Kuala Lumpur)
Graphene Nanochem develops and supply advanced
materials based on graphene and advanced
chemicals
Stage: Public
Carbon Nanotubes
NovoCarbon (2017, Concord)
Manufacturer of battery grade graphite and carbon
nanotubes
Stage: Public
Bourque Industries (1978, Phoenix)
Manufacturer of carbon nanotube metal matrix
composite materials
Stage: Public
Ironridge Global, HotVentures
Metal-Based
Nanophase (1989, Romeoville)
Develops, manufactures and sells metal oxide nano-
powder
BYK Additives & Instruments, ALTANA, ARCH
Venture Partners and 2 Other Investors

14
Nanomaterials
Quantum Dots
Developer of quantum dots & films for LCD display
screens
Soonicorn. Stage: Series F
Samsung Venture Investment, Department of
Energy, Venrock and 17 Other Investors
Nanoco Group (2001, Manchester)
Provides display technology solutions based on
Cadmium-free Quantum Dots
Aquarius Equity Partners
Quantum Materials (2007, San Marcos)
Low cost group II-VI quantum dot technology
commercialization
Stage: Public
Aerogels
Aspen Aerogel (2001, Northborough, $121M)
Stage: Public
ARPA-E, RockPort Capital, Tenaya Capital and 7
Other Investors
Svenska Aerogel (2000, Gavle, $2.3M)
Develops advanced aerogel material
Stage: Public
European Commission, Almi, Sandviken Investors
and 3 Other Investors
Smart Materials
Smart Fluids
Ferrotec (1980, Santa Clara)
Manufacturer and distributor of ferrofluids for
multiple industry applications
Stage: Public

15
Smart Materials
Smart Glass
Smart window glass for buildings
Unicorn. Stage: Series H
SoftBank Vision Fund, BlackRock, TIAA and 17
Other Investors
$259M)
Smart tinted glass
Soonicorn. Stage: Series D
SK, 5AM Ventures, Alexandria and 12 Other
Investors
Manufacturers of glass for the construction industry
Unicorn. Stage: Public
G-Smatt Global (2000, Seoul)
Provides LED embedded glass products and
technology for display
Stage: Public
SL Investment
Smart Glass
ARCHITECTURE IN GLASS LIMITED (1984,
Gurgaon)
Glass manufacturing company
Smart Glass (1965, New York City)
Developed a smart electronically tintable glass
Stage: Public
Textile
Sustainable Fabrics
Using genetically engineered microorganisms to
mass produce silk protein material
Cool Japan Fund, GOLDWIN, Shinsei Bank and 3
Other Investors
Tex-Ray Industrial (1978, Taipei)
Developer of sustainable textile and materials for
multiple applications
Lenzing (1939, Lenzing)
Producer and supplier of wood-based fibers
Nanollose (2014, Nedlands)
Developers of fiber based on nanocellulose
technology
Stage: Public

16
Textile
Sustainable Fabrics
CRAiLAR Fiber Technologies
International (1998, Vancouver)
Developed technology to produce fiber from flax &
industrial hemp
Stage: Public
Superconductors
Superconductors
Superconductor Technologies (1987,
Austin, $22.2M)
Developer of high temperature superconducting
materials and cryogenics
Sunrise Ventures

List of Notable Companies in Advanced Materials in China
Notable Companies in the Sector in China
17
Advanced Materials > Feed Summary > Notable Companies in the Sector in China
Public
The Sixth Element
Materials Technology
(2011, Changzhou)

Recent News in Advanced Materials Sector
Recent News
18
Advanced Materials > Feed Summary > Recent News
Apr 2019
Saint Jean Carbon Closes First Tranche of Private Placement,
GlobeNewswire
Apr 2019
USPTO Awards AKHAN Key Optics Patent for New Diamond Based
IR Antireflective Coating, Business Wire
Apr 2019
Polartec and Kraig Biocraft Laboratories to Bring First Spider Silk
Fabrics to the Performance Apparel Market, Business Wire
Apr 2019
Ferrotec sells Temescal UEFC-4900 evaporator system and Auratus
process to II-VI, Semiconductor Today
Apr 2019 Oros To Relocate To Portland, OR, SGB Media
Apr 2019 NovoCarbon Closes a Shares for Debt Issuance, CMOCRO
Apr 2019
Directa Plus doubles revenues as graphene products build traction,
Proactive Investors
Apr 2019
Saint-Gobain's SageGlass Appoints Namrata Vora as Vice President
of Sales, Business Wire
Apr 2019
NovoCarbon Closes Oversubscribed Private Placement,
GlobeNewswire
Apr 2019
NanoXplore Receives 2019 Award for the Commercialization of
Graphene, GlobeNewswire
Apr 2019
OPVIUS Introduces Novel, Cost-Efficient Acceptor Material from
Nano-C in OPV Mass Production, PV Magazine
Apr 2019
Automotive Glass Market to 2025 - Dominated by Compagnie de
Saint-Gobain, Asahi Glass Co, Fuyao Glass Industry Group, Nippon
Sheet Glass Co, and Corning - ResearchAndMarkets.com, Business
Wire
Key Recent News Key Recent News
Apr 2019
Graphosite project to deliver a unique graphene sensor for defect
detection, cambridgenetwork.co.uk
Apr 2019
Haydale collaborates on SMARTExpertise programme, Machinery
Market
Apr 2019
Tech firm sees substantial improvement in revenues,
thebusinessdesk.com
Apr 2019
Directa Plus pioneers graphene use as sector evolves, Proactive
Investors
Apr 2019
Applied Graphene Materials Presenting at 2019 Coatings Tech
Conference, directorstalkinterviews.com
Apr 2019
Applied Graphene Materials gets closer to 'joining the dots' for
wonder material, Proactive Investors
Apr 2019
Thermoelectric Modules Market 2019 Global Overview and Study of
Top Players – Ferrotec, Laird, KELK, Marlow, RMT, CUI, Hi-Z,
Tellurex, Crystal, P&N Tech, thewindherald.com
Apr 2019
Enterprise startups use cutting-edge technology to solve diverse
problems, livemint.com
Apr 2019
Global Thermoelectric Generator (TEG) Modules Market 2019 – II-
VI Marlow, Ferrotec (USA) Corporation, RMT Ltd., Alphabet Energy,
Inc., Custom Thermoelectric Inc., LexiNews
Apr 2019
BASF and Aspen Aerogels Expand Strategic Partnership, PR
Newswire
Apr 2019
Applied Graphene Materials expects contracts soon as testing
continues, Proactive Investors

Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
19
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club

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Investments ($M) and number of rounds in Advanced Materials; 2012-2019
Global Funding Trends (1/2)
21
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Advanced Materials > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 1% # of Rounds27% $ Funding
9% # of Rounds
43% $ Funding
$112M
$334M
$216M $246M
$486M
$88M
$504M
$1.4B
$336M
0
10
20
30
40
50
60
$0k
$200M
$400M
$600M
$800M
$1.B
$1.2B
$1.4B
$1.6B
2012 2013 2014 2015 2016 2017 2018 2019*
$ Funding Predicted $ Funding # Rounds Predicted # Rounds

10 12 18 17 17 12 25 2
11
20
24
22
14
10
17 3
10 7 8 13 5 10 9 2
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
31
7
Total # of Rounds
$13M $9M $9M $15M
$6M
$11M $33M $2M
$195M
$80M
$77M
$76M
$26M
$79M $60M $9M
$126M $126M $161M $395M $57M $414M $1.3B $100M
2012 2013 2014 2015 2016 2017 2018 2019 YTD
Seed Early Stage Late Stage
22
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Advanced Materials; 2012-2019
Advanced Materials > Investment Trends > Global Funding Trends
24
18
20
11
5
17
1
96
$9M
$2.3M
$0.0M
$1.0M
$2.0M
$3.0M
$4.0M
$5.0M
$6.0M
$7.0M
$8.0M
$9.0M
$10.0M
0
20
40
60
80
100
120
2013 2014 2015 2016 2017 2018 2019 YTD Total
Entrants in Funding Club Avg. Ticket Size
$9M $2.2M $1.3M $0.2M $0.7M $0.7M $1.7M $2.3M
$100M
$205M
$93M $121M
$353M
$50M
$412M
$1.3B
$300M
3
0
1
2
3
4
5
6
7
0
200000000
400000000
600000000
800000000
1E+09
1.2E+09
1.4E+09
2012 2013 2014 2015 2016 2017 2018 2019 YTD
$ Funding Predicted $ Funding # of Rounds Predicted # Rounds
Mega Rounds
2 2 2 6 1 4 4 1
$334M
$112M
Total $ Invested

Advanced Materials > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Advanced Materials
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 2.7B 66
Tsuruoka 176M 6
Minnetonka 150M 1
Lexington 133M 12
Northborough 121M 5
Faribault 116M 3
New York City 67.6M 16
Providence 64.5M 11
Watertown 63.9M 8
Branch 46.5M 4
Total Funding
114
7
32
57
7
4
7
# Rounds
$4.1B
$176M
$103M
$77.5M
$11.5M
$5.4M
$1.3M
US
Japan
Canada
Europe
Israel
New
Zealand
India
Note: Excludes funding information of China companies

Trend of Average Deal Size ($M)
$1.3
$0.9
$0.6
$1.3
$0.6
$1.1
$1.5
2012 2013 2014 2015 2016 2017 2018
Advanced Materials > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Advanced Materials; 2012-2018
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$10K* $11.5M
$560 $150M
$483K $32.4M
$400K $1.1B
$12M
$5.1M
$1.8M
$600K
Series C+
Series B
Series A
Seed
Stage
$8.0 $6.5 $5.3
$13.4
$3.4
$14.6
$1.4
$14.0 $25.1 $20.1 $32.9
$14.2
$59.1
$165.0
$25.9
$2.5 $2.6 $2.5 $1.6 $5.9 $3.9

Note: 101 companies with undisclosed funding amount are not included
25
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
34
57
36
3
9
No. of Companies
Advanced Materials > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Advanced Materials; as of Apr 2019
Distribution of companies by Funding Range
$14M
$248M
$808M
$189M
$3.1B
$ Investment

Stage No. of Companies
Funding
Funnel
100%
45%
17%
8%
6%
26
Note: Numbers in the brackets show the count of companies
Time to raise
next round
31
41
90
235
524
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
45% 7%
(38)
6%
(33)
- 4%
(22)
51%
(267)
38% 13%
(31)
11%
(25)
- 6%
(13)
56%
(132)
46% 12%
(11)
6%
(5)
- 6%
(5)
49%
(44)
76% 15%
(6)
2%
(1)
- 5%
(2)
20%
(8)
- 16%
(5)
3%
(1)
- 3%
(1)
52%
(16)
Advanced Materials > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Advanced Materials
Funding Funnel
17 Months
23 Months
27 Months
Investment backedBootstrapped
7
3
20
25
6
7
Soonicorns
Unicorns
Acquisitions
IPOs

Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Advanced Materials > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Advanced Materials; Apr 2017-Apr 2019
Notable Investments in last 24 months (1/3)
LATE STAGE
$1.1B - Series H Nov 2018
SoftBank Vision Fund
$200M - Series G Jun 2017
BlackRock, TIAA
$124M - Series D Jan 2018
Manufacturer of fibers for textile industry using
artificial silk proteins
Formation 8, Foundation Capital, Baillie Gifford,
Founders Fund, Fidelity Investments, Allen &
Company, Temasek
$100M - Series D Jan 2019
$259M)
Smart tinted glass
SK, 5AM Ventures, Alexandria, Capricorn, Versant
Ventures
LATE STAGE
$44M - Series D Dec 2018
Cool Japan Fund
$23.6M - Series C May 2018
$259M)
Smart tinted glass
$10M - Series F May 2018
screens
$9.6M - Series C May 2018
Nanostructured steel material coatings, additives &
other solutions
$7.5M - Series F Aug 2017
screens
LATE STAGE
$6.3M - Series C Jun 2017
RavenBrick (2006, Denver, $23.6M)
Develops and manufactures smart windows which
automatically changes to tinted state
$4.4M - Series C Apr 2018
Nanostructured steel material coatings, additives &
other solutions
$2.6M - Series C Oct 2017
$400k - Series C Mar 2019
Series C Jul 2017
$259M)
Smart tinted glass
The Angels’ Forum

LATE STAGE
Series C Dec 2018
Sheex (2007, Marlton, $10.5M)
Bedding and Sleepwear inspired by athletics
Decathlon Capital Partners
EARLY STAGE
$29M - Series B May 2017
Metamaterials-based radar technology
Madrona Venture Group, New Enterprise Associates,
Vulcan Capital, Lux Capital, The Kresge Foundation,
Bill Gates
$9.7M - Series B Aug 2017
Manufactures graphene and develops new materials
using them.
$5M - Series B Jun 2017
37.5 Technology (2000, Boulder, $46.9M)
Textile products that maintain micro-climate body
humidity using proprietary technology
$4M - Series A Feb 2018
BiologiQ (2011, Idaho Falls, $15.2M)
Develops and manufactured biodegradable
thermoplastic resin pellets
EARLY STAGE
$3.6M - Series A Mar 2019
Embody (2015, Norfolk, $15.6M)
Developer of implantable materials
Genesis Innovation Group
$3.4M - Series A Nov 2018
NanoPhotonica (2009, Lake Mary, $5.6M)
Develops light emitting nano-materials for electronic
displays
$3M - Series A Mar 2019
Brrr! (2014, Atlanta, $6M)
Permanent cooling clothing
$2.3M - Series A Apr 2018
$1.6M - Series A Jun 2017
Footfalls and Heartbeats Limited (2002,
Auckland, $5.4M)
Smart sensor textiles
UK Government

EARLY STAGE
$1.5M - Series A Aug 2018
Embody (2015, Norfolk, $15.6M)
Developer of implantable materials
Center for Innovative Technology, 757 Angels
$318k - Series A Nov 2018
Footfalls and Heartbeats Limited (2002,
Auckland, $5.4M)
MEIF
$115k - Series A May 2018
SEED STAGE
$1.8M - Seed Sep 2017
NanoPhotonica (2009, Lake Mary, $5.6M)
Develops light emitting nano-materials for electronic
displays
$1M - Seed Mar 2018
Brrr! (2014, Atlanta, $6M)
Permanent cooling clothing
$205k - Seed Feb 2018
Pinatex (2012, London, $205k)
Manufacturer of leather alternative fabric

Most Active Investors (VC, PE) by Stage in Advanced Materials; Last 5 years (Apr 2014-Apr 2019)
Most Active VC & PE Investors
30
Advanced Materials > Investment Trends > Most Active VC & PE Investors
SEED STAGE
Breakout Labs (2 Investments)
Pelitex, RasLabs
1
Parkwalk
Paragraf
2
Orios Venture Partners
Graphene Arch
3
NCT Ventures
Oros Apparel
4
ZhenFund
Saphlux
5
Elm Street Ventures
Saphlux
6
Amadeus Capital
Paragraf
7
Horizons Ventures
AlgiKnit
8
Portugal Ventures
Graphenest
9
PreAngel Partners
Saphlux
10
EARLY STAGE
In-Q-Tel (2 Investments)
Echodyne, Vorbeck
1
Evonik Venture Capital (2 Investments)
Nanotech Industrial Solutions, JeNaCell
2
Lux Capital
Echodyne
3
Foundation Capital
Bolt Threads
4
Madrona Venture Group
Echodyne
5
Vulcan Capital
Echodyne
6
Mission Bay Capital
Bolt Threads
7
Docor
SP Nano
8
GreenSky Capital
Mirexus Biotechnologies
9
Zygote Ventures
Bolt Threads
10
LATE STAGE
Mitsubishi UFJ Capital
Kinestral Technologies
1
Versant Ventures
2
5AM Ventures
3
IDG Capital
Cnano Technology
4
Temasek
Bolt Threads
5
Innovation Endeavors
Bolt Threads
6
Tsing Capital
QD Vision
7
The Angels’ Forum
8
Hotung Investment Holdings
Cnano Technology
9
Cool Japan Fund
Spiber
10

Advanced Materials > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Advanced Materials; Last 5 years (Apr 2014-Apr 2019)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
Plug and Play Tech Center(10
Investments)
TG0, Circular Systems, Atacama
1
MassChallenge(4 Investments)
TG0, SurgePower Materials, Nano Textile
2
SOSV(4 Investments)
AlgiKnit, Verdex Tech, Benthic Labs
3
Innovation Works
JeNaCell
4
Startupbootcamp
Hy2Care
5
Imperial Innovations
Echodyne
6
Innovacorp
Metamaterial
7
Y Combinator
AesculaTech
8
Techstars
Graphenest
9
HAX
Lumotune
10
OTHER NOTABLE INVESTORS
UK Government(3 Investments)
Irresistible Materials, Footfalls and Heartbeats Limited, Evince
1
Small Business Innovation Research
(2 Investments)
Nano-Meta Technologies, Novomer
2
Sustainable Development Technology
Canada(2 Investments)
Grafoid, CelluForce
3
BASF(2 Investments)
QD Vision, Innova Dynamics
4
Rusnano(2 Investments)
Germanium and Applications, OCSiAl
5
ATEL Capital Group(2 Investments)
Kinestral Technologies, Cambrios
6
Development Bank of Wales(2
Investments)
Seren Photonics, Haydale
7
Octopus Investments(2 Investments)
Surrey NanoSystems, Haydale
8
Department of Energy
NatureWorks
9
DSM
Bio2 Tech
10
DEBT INVESTORS
Mercia Technologies(2 Investments)
Locate Bio, Irresistible Materials
1
NXT Ventures(2 Investments)
Saphlux, Chasm Technologies
2
Connecticut Innovations
Saphlux
3
Horizon Technology Finance
NanoSteel
4
BlackRock
View
5
Sheex
6
MEIF
Footfalls and Heartbeats Limited
7

Advanced Materials > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/2)

Advanced Materials > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (2/2)

Advanced Materials > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
35
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive

Some more Sector Reports you might want to check out
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Mar 2019
Nanotechnology
Mar 2019
Blockchain
Mar 2019

Marketmap: Advanced Materials
37
Advanced Materials > Market Details > BlueBox

Key Sub Sectors (1/2)
38
Key Sub Sectors in Advanced Materials
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Smart Materials
Materials with the ability to respond to external stimuli such as stress, temperature, electric
or magnetic fields, etc.
SageGlass (1989, Faribault, Acquired)
48 17 $2.2B
Nanomaterials
Companies developing or manufacturing carbon or metal based nano-materials like CNT,
Quantum Dots, Fibers etc
QD Vision (2004, Lexington, Acquired)
261 105 $1.1B
Textile
Companies developing or manufacturing textile with advanced features such as anti-stain,
hydrophobic, etc.
Nanotex (1998, Oakland, Acquired)
79 35 $596M
Biomaterials
Companies developing or manufacturing new biomaterials with advanced properties
EcoSynthetix (1996, Toronto, Public)
NatureWorks (1997, Minnetonka, $150M)
86 55 $389M
Metamaterials
Companies developing or manufacturing materials engineered to have properties not found in
nature made by assemblies of multiple elements
Metamaterial (2011, Halifax, $13.7M)
8 6 $72.5M
Semiconductors
Companies providing unique semiconductor materials to be used for manufacturing
integrated circuits
Voltaix (1986, Branch, Acquired)
Saphlux (2014, New Haven, $6.2M)
20 11 $70.1M
Superconductors
Materials exhibiting superconductivity, i.e., attaining zero electrical resistance when cooled
below a critical temperature
Superconductor Technologies (1987,
Austin, Public)
CAN SUPERCONDUCTORS (1994,
Kamenice)
5 1 $22.2M
Optical Fibre
Companies developing innovative and advanced materials as a replacement of Silica or Plastic
for developing optical fibres
Flawless Photonics (2017, Mountain View,
$2.1M)
Smartcel (2012)
3 1 $2.1M
Advanced Materials > Market Details > Key Sub Sectors

Key Sub Sectors (2/2)
39
Key Sub Sectors in Advanced Materials
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Metal-Based
Companies developing advanced or high-performance metal alloys
Liquidmetal (1987, Rancho Santa Margarita,
Public)
Borman Specialty Materials (2018,
Henderson)
14 4 -
Advanced Materials > Market Details > Key Sub Sectors

Detailed Sector Taxonomy (1/4)
40
Advanced Materials > Market Details > Detailed Sector Taxonomy

41

42

43

Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(+3)
Nanomaterials > Graphene
Companies manufacturing nanoscaled graphene (single layered allotrope of Carbon) material
(Companies covered 104 | Funded 38 | Total Funding $132M)
$33.5M
(+$18.6M)
17
(-)
NanoXplore
(2011, Montreal, $13.1M)
2
(+1)
Textile > Sustainable Fabrics
Companies developing sustainable fabrics or textile derived from organic produce or recycled
materials
$180M
(+$2M)
10
(+5)
Bolt Threads
(2009, Emeryville, $214M)
3
(+2)
Smart Materials > Smart Glass
Companies developing or manufacturing smart glasses, smart films and windows
(Companies covered 33 | Funded 12 | Total Funding $2.2B)
$1.4B
(+$1.1B)
8
(+4)
View
(2007, Milpitas, $1.7B)
4
(-3)
Biomaterials > Biodegradable Polymers
Companies developing or manufacturing polymers which are completely biodegradable
$24.5M
(+$1.4M)
8
(-1)
Mirexus Biotechnologies
(2008, Guelph, $17.6M)
5
(+2)
Nanomaterials > Carbon Nanotubes
Companies developing or processing carbon nanotubes (an allotrope of carbon with cylindrical
nanostructure)
$30.3M
(+$10.8M)
6
(+2)
Nano C
(2001, Westwood, $14.2M)
6
(-5)
Nanomaterials > Quantum Dots
Companies developing or manufacturing nanomaterials for quantum dots applications
$23.6M
(-$4.7M)
5
(-1)
Nanosys
(2001, Palo Alto, $189M)
7
(+2)
Textile
Companies developing or manufacturing textile with advanced features such as anti-stain,
hydrophobic, etc.
$16M
(+$14.8M)
6
(+1)
Oros Apparel
(2013, Cincinnati, $8.2M)
44
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets of Investment Activity (1/2)
Top Markets by Funding in Advanced Materials in last 2 years (April 2017 - March 2019)
Advanced Materials > Market Details > Top Markets of Investment Activity

Top Markets of Investment Activity (2/2)
Advanced Materials > Market Details > Top Markets of Investment Activity

Rank Market # Investments Key Investments
1
Metamaterials
Companies developing or manufacturing materials engineered to have properties not found in nature
made by assemblies of multiple elements
(Companies created 8 | Funded 6 | Total Funding $72.5M )
1 Echodyne (2014, Bellevue, $44M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
46
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (April 2017 - March 2019)
Advanced Materials > Market Details > Top Markets of Early Stage Investors

Incubators Techstars (#1), TIDES Incubation Centre (#1)
Seed Parkwalk (#1), IP Group (#1)
Series A/B In-Q-Tel (#1), Mitsubishi UFJ Capital (#1)
Series C+
Samsung Venture Investment (#1), Qualitas Equity
Partners (#1)
Gnanomat Sep - 2018
Acq by Versarien for $3.4M
Cambridge Graphene Jan - 2017
Acq by Versarien for $210k
Directa Plus May - 2016
IPO'd on LON
Haydale Apr - 2014
IPO'd on LON
Applied Graphene Materials
Nov - 2013
IPO'd on LON
Seed
Graphmatech (2017, Uppsala)
$7.6M - Series A
General Graphene (2013, Oak Ridge,
$9.6M)
$263k - Seed
Log9materials (2014, Saharanpur,
$830k)
$4M - Seed
Paragraf (2015, Peterborough, $7.5M)
$3M - Series A
Angstron Materials (2007, Dayton,
$13.7M)
$860k - Seed
Graphenest (2015, Aveiro, $860k)
Apr 2019
Saint Jean Carbon Closes First Tranche of Private Placement,
GlobeNewswire
Apr 2019
Directa Plus doubles revenues as graphene products build
traction, Proactive Investors
Apr 2019
Haydale collaborates on SMARTExpertise programme,
Machinery Market
Mar 2019
First Graphene (ASX: FGR) expect to achieve cash flow
breakeven levels by the end of 2019, Wholesale Investor
Mar 2019
Spin-Off Producing Commercial-Grade Graphene, Technology
News and Literature
Feb 2019
Saint Jean Carbon appoints Doug Windsor to its Board of
Directors as President, Talent4Boards
Feb 2019
Advanced Materials Manufacturer Plans Equity Placing,
Insider Media
Feb 2019
Super Capacitors Market Trends, Sales, Supply, Demand,
Analysis, Share, Comprehensive Research Study, Emerging
Technologies and Potential of Industry from 2019-2023,
Digital Journal
Feb 2019
Directa Plus becomes newest member of exclusive National
Graphene Association Industry Council, Biotech Capital
Feb 2019
Graphene Market to be Worth US$159.2 Mn by 2023; Need
to Make Light-Weight Vehicles to Propel Growth in Market:
TMR, PR Newswire
Jan 2019
Nanotech Energy, the UCLA Energy Incubator and Holder of
First Patent for Graphene Announces Profound Achievement
in Production of High Quality Graphene Based Materials,
Business Wire
Jan 2019 NanoXplore secures $10 mln in debentures from BDC, PE Hub
News
11
2
12
38
104
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Nanomaterials > Graphene: Market Factsheet
47
Exits
Recent InvestmentsCompanies manufacturing
nanoscaled graphene (single
layered allotrope of Carbon)
material
Directa Plus
(2005, Lomazzo, $10.3M)
Haydale
(2010, Swansea)
Vorbeck
(2006, Jessup, $19.2M)
G Sciences
(2006, Lansing, $18.8M)
Grafoid
(2011, Kingston, $17.1M)
Top Companies
#1 Top Markets of Investment Activity
Advanced Materials > Market Details > Market: Graphene
Companies Created 104 | Funded 38 | Total Funding $132M
0
10
20
30
$0k
$50M
$100M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Graphene

Nanomaterials > Graphene: Top Companies
Market: Graphene
Analyst’s Pick
Manufactures graphene and develops new
materials using them.
Soonicorn. Stage: Series B
BDC
Technology partners for Consumer and Industrial
Graphene based product manufacturers
Club degli Investitori, Quadrivio, Como Venture and
4 Other Investors
Adama Materials (2008, Honolulu, $9.1M)
Develop nanomaterials using graphene oxide for
application in composite materials
Editor's Pick. Stage: Series A
Startup Capital Ventures, Cellular Bioengineering,
Artiman Ventures
Nanotech Energy (2014, Los Angeles, $3.4M)
Manufacturer of graphene and conductive inks
Multiverse Investment Fund
Analyst’s Pick
Log9materials (2014, Saharanpur, $830k)
Nanomaterials manufacturing and R&D
Editor's Pick. Stage: Seed
Hemant Luthra, Anubhav , Somesh Sharma and 8
Other Investors
Functionalization of graphene, carbon nanotubes
and graphene-infused 3D printing filament
Development Bank of Wales, Octopus Investments,
Herald Investment Management
AzTrong (2013, Hsinchu)
Develops and manufactures graphene (functional)
Editor's Pick. Stage: Unfunded
Carbon Waters (2017, Merignac)
Manufacturer of liquid graphene for high
performance materials
Editor's Pick. Stage: Funded
Aquiti Gestion
Analyst’s Pick
GAON International (2015, Ansan-si)
Developer of CVD graphene
GraphenTech (2018, Rotterdam)
Developer and provider of graphene for multiple
applications
Perpetuus Advanced Materials (2015,
Ammanford)
Develops and manufactures garphene at industrial
scale
STANDARD GRAPHENE (2012, Ulsan)
Developer of graphene and graphene oxide
Taiwan Graphene (2014, Taipei)
Manufacturer of graphene and graphene based
materials

Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
49
Nanomaterials > Graphene: Leaderboard
Better than Market Average
Market: Graphene
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 NanoXplore 2011 Montreal Series B $13.1M 4 - - - - 724 - - 22 - - 53 8%
4.8 Grafoid 2011 Kingston Series A $17.1M 9 - - - - 839 - - 10 - - 28 3%
4.6 Haydale 2010 Swansea Public - 4 - - - - 1.3k - - 62 - - 153 13%
4.6 Graphenea 2010 Cambridge Seed $1.1M 2 - - - - 3.7k - - 8 - - 237 7%
4.6 Vorbeck 2006 Jessup Series B $19.2M 7 - - - - 631 - - 4 - - 19 3%
4.5 Directa Plus 2005 Lomazzo Public $10.3M 2 4 - - 3 458 - - 39 - - 38 9%
4.4
Log9materia
ls
2014 Saharanpur Seed $830k 5 - - - - 135 - - 10 - - 87 181%
4.2
Saint Jean
Carbon
1997 Calgary Public - 3 - - - 4 174 - - 19 - - 11 7%
4.1 Gnanomat 2014 Madrid Acquired $55.6k 1 - - - - 357 - - 2 - - 174 95%
4.0
Angstron
Materials
2007 Dayton Series A $13.7M 3 - - - - 614 - - - - - 17 3%
3.7
Adama
Materials
2008 Honolulu Series A $9.1M 9 5 - - - 38 - - 1 - - - -
3.7
Graphene
Technologies
2009 Novato Seed $1.9M 1 - - - - 1.6k - - - - - 50 3%
3.6 G Sciences 2006 Lansing Series C $18.8M 12 - - - - - - - 4 - - - -
3.5
Graphene
Frontiers
2011
Philadelphi
a
Funded $745k 1 - - - - 2.1k - - 1 - - 50 2%

Incubators RebelBio (#1), SOSV (#1)
Seed Horizons Ventures (#1), VTT Ventures (#1)
Series A/B Foundation Capital (#1), Founders Fund (#1)
Series C+ Temasek (#1), Fidelity Investments (#1)
Nanollose Oct - 2017
IPO'd on ASX
Crypton Apr - 2017
Acq by Berkley Capital
CRAiLAR Fiber Technologies
International
IPO'd
$1.7M - Seed
Circular Systems (2017, Los Angeles,
$1.7M)
$44M - Series D
$2.2M - Seed
AlgiKnit (2017, New York City, $2.9M)
$556k - Seed
$1.4M - Series B
Ecovative (2007, New York City,
$26.9M)
$205k - Seed
$124M - Series D
Bolt Threads (2009, Emeryville,
$214M)
$100k - Seed
Mar 2019
Crypton creates patio experience for High Point Market,
Furniture Today
Mar 2019 Biotech firm Spiber to develop artificial hair, BioSpectrum Asia
Mar 2019
Solvay and Lenzing Collaborate on New Blended Fabric,
Sourcing Journal
Mar 2019
Lenzing’s speciality fibre business exceeds 45% of total
revenue, Fashion Network
Mar 2019
Lenzing’s Nonwovens Division Bolsters Business Growth
And Quality-Centric Strategy With The Appointment Of New
Leadership, Textile Industries Media Group
Feb 2019
Hyosung collaboration showcases sustainable benefits of its
brands, Textile Magazine
Feb 2019 Lenzing partners with TaFF in Singapore, Woodbizforum
Jan 2019
Applied DNA Signs MOU with Tex-Ray Industrial to
Introduce CertainT® Authentication Platform to Global
Textile Brands, Business Wire
Dec 2018
Lenzing expands environmental leadership commitment,
Fibre2Fashion
Dec 2018
Case study: Circular Systems turns scraps into textiles, Supply
Chain Dive
Dec 2018
Global Man-made Regenerated Cellulose Fibres Market
Insight Report 2018-2025: Lenzing, Aditya Birla, Kelheim
Fibers, Tangshan Sanyou, Talk Daily News
Dec 2018
In brief: Japanese spider-silk maker raises $44m from Cool
Japan Fund, others, Tech in Asia
News
5
3
5
17
40
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Textile > Sustainable Fabrics: Market Factsheet
50
Exits
Recent InvestmentsCompanies developing sustainable
fabrics or textile derived from
organic produce or recycled
materials
Nanollose
(2014, Nedlands)
Bolt Threads
(2009, Emeryville, $214M)
Spiber
(2007, Tsuruoka, $197M)
Ecovative
(2007, New York City, $26.9M)
Martex Fiber
(1970, Philadelphia, $15.5M)
Top Companies
Advanced Materials > Market Details > Market: Sustainable Fabrics
0
10
20
30
$0k
$200M
$400M
$600M
2014 2015 2016 2017 2018
Market: Sustainable Fabrics

Textile > Sustainable Fabrics: Top Companies
Market: Sustainable Fabrics (1/2)
Analyst’s Pick
Manufacturer of fibers for textile industry using
artificial silk proteins
Minicorn. Stage: Series D
Formation 8, Foundation Capital, Baillie Gifford and
15 Other Investors
Cool Japan Fund, GOLDWIN, Shinsei Bank and 3
Other Investors
Ecovative (2007, New York City, $26.9M)
Developing biodegradable materials
Editor's Pick. Stage: Series B
3M, Stichting DOEN, Rensselaer Polytechnic
Institute
Analyst’s Pick
Spinnova (2014, Vaajakoski, $7.9M)
Manufacturer of textile yarns from wood fibres
without using any chemicals
Luvian Osuuspankki, Business Finland, Fibria and 7
Other Investors
Developer of sustainable biomaterials from
renewable organisms
Horizons Ventures, SOSV, RebelBio
Circular Systems (2017, Los Angeles, $1.7M)
Developer of waste-to-fiber processing systems
Plug and Play Tech Center
Manufacturer of leather alternative fabric
Minicorn. Stage: Seed
Analyst’s Pick
Repreve (1971, Greensboro)
PET bottle recycling company to produce fabrics for
apparel
Minicorn. Stage: Unfunded
Orange Fiber (2013, Catania)
Developer of fabrics from citrus by-products
Paper No. 9 (2010, Brooklyn)
Developer of handmade sustainable textiles
Qmilk (2012, Hemmingen)
Developer of a biopolymer from milk proteins
Cinco Capital
S.Cafe (2009, Taipei)
Internet-first brand of innovative materials
Developer of sustainable textile and materials for
multiple applications

Textile > Sustainable Fabrics: Top Companies
Market: Sustainable Fabrics (2/2)
Analyst’s Pick
The Apple Girl (2016, Copenhagen)
Developer of biodegradable leather from apples
using biomimicry

53
Textile > Sustainable Fabrics: Leaderboard
Market: Sustainable Fabrics
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Bolt Threads 2009 Emeryville Series D $214M 4 - - - - 3.9k - - 15 - - 469 14%
4.4 Spinnova 2014 Vaajakoski Series A $7.9M 3 - - - - 679 - - 8 - - 189 39%
4.2 Ecovative 2007
New York
City
Series B $26.9M 5 2 - - - 8.6k - - 5 - - 518 6%
3.8 Pinatex 2012 London Seed $205k 1 - - - 4 2k - - 3 - - 137 7%
3.5 Lenzing 1939 Lenzing Public - - - - - 4 725 - - 60 - - 150 26%
3.4 Spiber 2007 Tsuruoka Series D $197M 7 - - - - - - - 2 - - - -
3.4 AlgiKnit 2017
New York
City
Seed $2.9M 3 4 - - 3 663 - - 1 - - 134 25%
3.2
Mango
Materials
2010 Berkeley Seed - 1 4 - - - 1.4k - - 1 - - 99 8%
3.0 Nanollose 2014 Nedlands Public - - 3 - - 4 214 - - 6 - - 39 22%
2.8 Orange Fiber 2013 Catania Funded - - 4 - - 4 4.9k - - - - - 172 4%
2.8 PurThread 2009 Cary Seed $9.1M 1 - - - - 474 - - 3 - - -9 -2%
2.5 Crypton 1993
Bloomfield
Hills
Acquired - - 3 - - 3 1.6k - - 6 - - 8 1%
2.2
Circular
Systems
2017 Los Angeles Seed $1.7M 1 4 - - 3 - - - 2 - - - -
2.2 Martex Fiber 1970
Philadelphi
a
Funded $15.5M 1 3 - - - - - - - - - - -

Incubators Creative Destruction Lab (#1)
Seed Amplifier Ventures (#1)
Series A/B Pangaea Ventures (#1), BDC (#1)
Series C+ Capricorn (#1), Mitsubishi UFJ Capital (#1)
SageGlass May - 2012
Acq by Saint Gobain
G-Smatt Global Feb - 2010
IPO'd on KOSDAQ
Smart Glass Jul - 1986
IPO'd on NASDAQ
AGC Glass Company Jun - 1950
IPO'd on TYO
$400k - Series C
$100M - Series D
Kinestral Technologies (2010,
Hayward, $259M)
$1.1B - Series H
$23.6M - Series C
Hayward, $259M)
$2.6M - Series C
Series C
Hayward, $259M)
$6.3M - Series C
$200M - Series G
Apr 2019
Saint-Gobain's SageGlass Appoints Namrata Vora as Vice
President of Sales, Business Wire
Mar 2019
AGC Established a Global Tri-polar R&D Framework for
Automotive On-glass Antennas, WebWire
Mar 2019
Ceramic Substrate Market Report 2019-2026 Forecast and
Trend Analysis by Top Players: Kyocera, Nikko, CoorsTek,
Asahi Glass Co, Yokowo, Ecocera, Toshiba, ACX Corp, Digital
Journal
Mar 2019
Research Frontiers Reports Fourth Quarter and Full Year
2018 Financial Results - This press release is being re-issued
to correct formatting issues., GlobeNewswire
Mar 2019
AGC completes acquisition of Malgrat Pharma Chemicals,
BioSpectrum Asia
Mar 2019
AGC Completes Acquisition of Spanish Synthetic
Pharmaceutical Active Ingredient Manufacturer Malgrat
Pharma Chemicals, PR Newswire
Feb 2019
AGC Acquires Taconic’s Advanced Dielectric Division, Ceramic
Industry
Feb 2019
Global Amorphous Dielectric Market 2019 – The Chemours
Company, AkzoNobel, Solvay, AGC Chemicals Europe, Lincoln
Trail Publishing
Feb 2019
Partners Integrate LiDAR Sensors In Vehicle Windshields,
Sensors Online
Jan 2019
AGC: Construction Costs Dipped, Prices Accelerated in 2018,
High
Jan 2019
Chemical maker AGC sees profit uptick on Southeast Asian
sales, Nikkei
Dec 2018 Smart Windows On the Rise in Chicago, PRWeb
News
5
5
6
12
33
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Smart Materials > Smart Glass: Market Factsheet
54
Exits
Recent InvestmentsCompanies developing or
manufacturing smart glasses,
smart films and windows
G-Smatt Global
(2000, Seoul)
View
(2007, Milpitas, $1.7B)
(2010, Hayward, $259M)
SageGlass
(1989, Faribault, $116M)
Top Companies
Advanced Materials > Market Details > Market: Smart Glass
Companies Created 33 | Funded 12 | Total Funding $2.2B
0
5
10
$0k
$2.B
$4.B
2014 2015 2016 2017 2018
Market: Smart Glass

Smart Materials > Smart Glass: Top Companies
Market: Smart Glass
Analyst’s Pick
Unicorn. Stage: Series H
SoftBank Vision Fund, BlackRock, TIAA and 17
Other Investors
$259M)
Smart tinted glass
SK, 5AM Ventures, Alexandria and 12 Other
Investors
Minicorn. Stage: Series C
Aravaipa Ventures, Azure Cleantech Energy Fund
Heliotrope (2012, Berkeley, $1.2M)
Electrochromic smart windows
ARPA-E, Lawrence Berkeley National Laboratory,
Gobain and 3 Other Investors
Analyst’s Pick
ARCHITECTURE IN GLASS LIMITED (1984,
Gurgaon)
Glass Apps (2013, New York City)
Electrically controlled switchable smart glass and
film
Suntuitive Dynamic Glass (1998, Jenison)
Offers thermochromic elements based glass
technology

56
Smart Materials > Smart Glass: Leaderboard
Market: Smart Glass
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0
Kinestral
Technologies
2010 Hayward Series D $259M 9 - - - - 220 - - 9 - - 30 16%
5.0 SageGlass 1989 Faribault Acquired $116M 4 - - - - 3.5k - - 10 - - 57 2%
4.7 View 2007 Milpitas Series H $1.7B 21 - 4 - - 29 2k 19 24 6 46% 13 81%
4.0
SWITCH
MATERIALS
2007 Burnaby Series B $10.1M 4 - - - - 157 - - 2 - - 2 1%
4.0
ARCHITECT
URE IN
GLASS
LIMITED
1984 Gurgaon Public - - - 5 - - 3.2k 9k 115 16 18 19% - -
3.9 Smart Glass 1965
New York
City
Public - 1 - - - - 774 - - 13 - - 14 2%
3.8 Heliotrope 2012 Berkeley Seed $1.2M 4 - - - - 67 - - 3 - - 21 46%
3.6
AGC Glass
Company
1907 Tokyo Public - - - - - - 2.7k - - 82 - - 81 3%
3.4 RavenBrick 2006 Denver Series C $23.6M 8 - - - - 238 - - 1 - - -1 -
2.7 Lumotune 2013 Kitchener Seed $100k 3 - - - 4 259 - - - - - - -
2.2
e-Chromic
Technologies
2011
Colorado
City
Seed $600k 1 - - - - 69 - - - - - -1 -1%
2.0
G-Smatt
Global
2000 Seoul Public - 2 - - - - - - - 1 - - - -

Advanced Materials > Market Details > Market: Biodegradable Polymers
Market: Biodegradable Polymers

Advanced Materials > Market Details > Market: Carbon Nanotubes
Market: Carbon Nanotubes

Advanced Materials > Market Details > Market: Quantum Dots
Market: Quantum Dots

Advanced Materials > Market Details > Market: Textile
Market: Textile

Market: Textile

Advanced Materials > Market Details > Market: Metal-Based
Market: Metal-Based

Market: Metal-Based

#1 Top Markets of Early Stage Investors
Advanced Materials > Market Details > Market: Metamaterials
Companies Created 8 | Funded 6 | Total Funding $72.5M
Market: Metamaterials

Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
75
Notable Acquisitions
Top Acquirers

Public companies (1/4)
77
Performance indicators of public companies in Advanced Materials
IPO Date Company
IPO
Mcap
Exchange
Ticker
Oct 2017
Nanollose (2014, Nedlands)
Developers of fiber based on nanocellulose technology
$11.8M ASX:NC6
May 2016
Directa Plus (2005, Lomazzo)
Technology partners for Consumer and Industrial Graphene based
product manufacturers
$48.6M LON:DCTA
May 2015
Nanoco Group (2001, Manchester)
Provides display technology solutions based on Cadmium-free
Quantum Dots
$383M LON:NANO
Jun 2014
Aspen Aerogel (2001, Northborough)
$253M NYSE:ASPN
Apr 2014
Functionalization of graphene, carbon nanotubes and graphene-
infused 3D printing filament
$39.5M LON:HAYD
Nov 2013
Applied Graphene Materials (2010, Redcar)
$42.2M LON:AGM
Jul 2013
U-PICA (1977, Chiyoda-ku)
Developer of saturated polyester and epoxy acrylate resin
TYO:7891
May 2012
Elcora (2011, Halifax)
Developed a vertically integrated process to refine graphite with
higher yield of graphene
$636k CVE:ERA
Advanced Materials > Exit Outlook > Public Companies

78
IPO Date Company
IPO
Mcap
Exchange
Ticker
Aug 2011
EcoSynthetix (1996, Toronto)
Bio-based binder polymers
TSX:ECO
Feb 2010
Ferrotec (1980, Santa Clara)
Manufacturer and distributor of ferrofluids for multiple industry
applications
TYO:6890
Feb 2010
G-Smatt Global (2000, Seoul)
Provides LED embedded glass products and technology for display
KOSDAQ:114570
Nov 2006
Graphene NanoChem (2006, Camberley)
Technology commercialization company operating in two divisions
Advanced materials & advanced chemicals
$312M LON:GRPH
Jun 2004
Saint Jean Carbon (1997, Calgary)
Graphene-based products provider for Lithium batteries
CVE:SJL
May 2002
Liquidmetal (1987, Rancho Santa Margarita)
Developer of metal alloys
$611M NASDAQ:LQMT
Sep 2000
ASX:FGR
May 1998
AXT (1986, Fremont)
Compound semiconductor substrate manufacturers
$157M NASDAQ:AXTI
Nov 1997
Nanophase (1989, Romeoville)
Develops, manufactures and sells metal oxide nano-powder
NASDAQ:NANX

79
IPO Date Company
IPO
Mcap
Exchange
Ticker
Aug 1994
ASX:FGR
Mar 1993
Superconductor Technologies (1987, Austin)
Developer of high temperature superconducting materials and
cryogenics
NASDAQ:SCON
Jul 1986
Smart Glass (1965, New York City)
Developed a smart electronically tintable glass
NASDAQ:REFR
Jun 1950
TYO:5201
NovoCarbon (2017, Concord)
Manufacturer of battery grade graphite and carbon nanotubes
The Sixth Element Materials Technology (2011,
Changzhou)
Manufacturer of graphene powder and graphene suspension
products
CRAiLAR Fiber Technologies International (1998,
Vancouver)
Developed technology to produce fiber from flax & industrial hemp
Bourque Industries (1978, Phoenix)
Manufacturer of carbon nanotube metal matrix composite materials

80
IPO Date Company
IPO
Mcap
Exchange
Ticker
Platinum Nanochem (2012, Kuala Lumpur)
Graphene Nanochem develops and supply advanced materials based
on graphene and advanced chemicals
Quantum Materials (2007, San Marcos)
Low cost group II-VI quantum dot technology commercialization
CerePlast (2004, Seymour)
Develops and manufactures biobased, compostable bioplastic resins
Applied Nanotech (1989, Austin)
Develops and manufactures nano materials
ARCHITECTURE IN GLASS LIMITED (1984, Gurgaon)
Svenska Aerogel (2000, Gavle)
Develops advanced aerogel material
STO:AERO
Developer of sustainable textile and materials for multiple
applications

Notable Acquisitions (1/2)
81
Notable Acquisitions in Advanced Materials
Advanced Materials > Exit Outlook > Notable Acquisitions
2018
Acquirer: Huntsman
Nanocomp (2004, Merrimack, $45.9M)
Carbon nano-tubes producer and supplier
2016
Acquirer: Samsung Deal: $70M
QD Vision (2004, Lexington, $133M)
Quantum Dot technology for display applications
2014
Acquirer: Crypton
Nanotex (1998, Oakland, $35M)
Nanotechnology-based textile enhancement
solutions

Notable Acquisitions (2/2)
82
Notable Acquisitions in Advanced Materials
Advanced Materials > Exit Outlook > Notable Acquisitions
2013
Acquirer: Air Liquide
Voltaix (1986, Branch, $47M)
Provides material for semiconductor industry
2012
Acquirer: Saint Gobain
SageGlass (1989, Faribault, $116M)
Dynamic Window Glass

Most Active Acquirers
83
Advanced Materials > Exit Outlook > Most Active Acquirers

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
84
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players

Advanced Materials > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in Advanced Materials; Last 5 years (Apr 2014 - Mar 2019)
Index of Most Active VC & PE Investors
SEED STAGE
Breakout Labs (2 Investments)
Parkwalk
ZhenFund
Kreaxi
Orios Venture Partners
NCT Ventures
Elm Street Ventures
The W Fund
Amadeus Capital
Horizons Ventures
Portugal Ventures
PreAngel Partners
Oxford Technology
ISource Gestion
IQ Capital
EARLY STAGE
In-Q-Tel (2 Investments)
Evonik Venture Capital (2 Investments)
Lux Capital
Foundation Capital
Founders Fund
Formation 8
Vulcan Capital
Mission Bay Capital
Docor
GreenSky Capital
Alafi Capital
Zygote Ventures
CIG
LATE STAGE
Versant Ventures
5AM Ventures
Tsing Capital
GRC SinoGreen
IDG Capital
Temasek
The Angels’ Forum
Hotung Investment Holdings
Cool Japan Fund
Presidio Partners
Qualitas Equity Partners
East West Capital Partners

Kreaxi
87
Portfolio in Advanced Materials | Exits | Funds Link | Website | LinkedIn | Twitter
Advanced Materials > Investors > Kreaxi
Investments
Top Exits Recent News on Fund & Portfolio
Geographical Spread Stage of Entry
Apr 2008
Materials firm Saint Gobain acquires GaN substrate maker
Lumilog - Compoundsemi Online, Compoundsemi Online
Lumilog
(2001, Vallauris)
Acq by Saint Gobain - Apr 2008
2014 2015 2016 2017 2018 2019
Follow On New Investments
1
-
-
-
1
Undisclosed
Series C+
Series B
Series A
Seed2
-
-
-
-
Europe

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
88
Seed Stage
Early Stage
Late Stage

In-Q-Tel
89
Advanced Materials > Investors > In-Q-Tel
People
Investments
[Soonicorn] Nanosys (2001, Palo Alto, $189M, Series F)
Developer of quantum dots & films for LCD display screens
[Minicorn] Echodyne (2014, Bellevue, $44M, Series B)
Advanced Materials Notable Portfolio
[Unicorn] Palantir Technologies (2004, Palo Alto, $2.3B,
Series I)
Intelligence products to Augment Human Driven Analysis
[Unicorn] Cloudera (2008, Palo Alto, $1B, Public)
Commercialised versions of Hadoop distributions
[Unicorn] Pure Storage (2009, Mountain View, $528M, Public)
All-flash Enterprise Storage
[Unicorn] Databricks (2013, San Francisco, $498M, Series E)
Platform to Ingest and Analyze and Visualize Data on a spark cluster
[Unicorn] MongoDB (2007, New York City, $311M, Public)
Provider of NoSQL database
[Unicorn] Tenable Network Security (2002, Columbia,
$310M, Public)
Log correlation based SIEM solution and network security scanner
[Unicorn] Sila Nanotechnologies (2011, Alameda, $295M,
Series E)
Developer of battery performance improvement material
[Soonicorn] Fluidigm (1999, San Francisco, $372M, Public)
Develops products and systems for advanced research
[Soonicorn] Mesosphere (2013, San Francisco, $251M, Series D)
Container based Datacenter Operating System
[Soonicorn] DataRobot (2012, Boston, $225M, Series D)
Automated machine learning platform for data science applications
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Christopher
Darby
CEO & President
Mar 2019
Echodyne Announces Availability of Rapid Deployment
Kit for Portable High-Performance 3D Surveillance Radar,
Business Wire
Mar 2019 Echodyne Radars in NASA TCL4 Awards, Business Wire
Mar 2019
Black Sage Technologies Selects Echodyne MESA™ Radar
for Counter-UAS and Perimeter Security Solutions,
Business Wire
Mar 2019
Echodyne Showcases 3D Detection Capable Radar at UK’s
Security & Counter Terror Expo, EverythingRF
Mar 2019
Echodyne Radars Offer Unprecedented Detection on the
Ground and in the Air, Bolstering Advancements in
Perimeter Security, Business Wire
Jan 2019
Echodyne’s EchoFlight Radar Receives Commodity
Jurisdiction Determination, Business Wire
Jan 2019
Echodyne Radar Selected for Northern Plains’ UTM Pilot
Program Testing, Business Wire
Nov 2018
Global Metamaterial Market Insights 2018: Metamaterial
Technologies Inc., JEM Engineering, Kymeta Corporation,
Echodyne, Truthweek
Nov 2018 Echodyne Adds New CFO, Business Wire
QD Vision
(2004, Lexington, $133M)
Acq by Samsung - Nov 2016
1 1
2014 2015 2016 2017 2018 2019
-
-
4
1
-
Undisclosed
Series C+
Series B
Series A
Seed5
-
-
-
-
US

Lux Capital
90
Advanced Materials > Investors > Lux Capital
People
Investments
[Soonicorn] Nanosys (2001, Palo Alto, $189M, Series F)
Developer of quantum dots & films for LCD display screens
[Minicorn] Echodyne (2014, Bellevue, $44M, Series B)
[Unicorn] Zoox (2013, Menlo Park, $750M, Series B)
Autonomous mobility company developing fully autonomous electric
vehicle
[Unicorn] Desktop Metal (2015, Cambridge, $438M, Series E)
3D printers for printing metal parts
[Soonicorn] Planet Labs (2010, San Francisco, $351M, Series D)
Microsatellites to maps the earth to provide universal access to
information
[Soonicorn] Transphorm (2007, Goleta, $245M, Series F)
Developing better power conversion technology
[Soonicorn] Kymeta (2012, Seattle, $218M, Series E)
Electronic beamforming antenna for satellite communications
[Soonicorn] Siluria (2008, San Francisco, $151M, Series E)
Technology developer for conversion of natural gas into ethylene
directly
[Soonicorn] Kallyope (2014, New York City, $131M, Series B)
Platform to harness the potential of the gut-brain axis.
[Soonicorn] Rigetti Computing (2013, Berkeley, $119M, Series
B)
Full-stack quantum computing company
[Soonicorn] Recursion Pharma (2013, Salt Lake City, $116M,
Series B)
Discover new therapeutic opportunities for rare genetic diseases.
Top Exits
Josh Wolfe
Co-Founder &
Managing Partner
Robert Paull
Co-Founder &
Venture Partner
Peter Hebert
Co-Founder &
Managing Partner
Mar 2019
Echodyne Announces Availability of Rapid Deployment
Kit for Portable High-Performance 3D Surveillance Radar,
Business Wire
Mar 2019 Echodyne Radars in NASA TCL4 Awards, Business Wire
Mar 2019
Black Sage Technologies Selects Echodyne MESA™ Radar
for Counter-UAS and Perimeter Security Solutions,
Business Wire
Mar 2019
Echodyne Showcases 3D Detection Capable Radar at UK’s
Security & Counter Terror Expo, EverythingRF
Mar 2019
Echodyne Radars Offer Unprecedented Detection on the
Ground and in the Air, Bolstering Advancements in
Perimeter Security, Business Wire
Jan 2019
Echodyne’s EchoFlight Radar Receives Commodity
Jurisdiction Determination, Business Wire
Jan 2019
Echodyne Radar Selected for Northern Plains’ UTM Pilot
Program Testing, Business Wire
Nov 2018
Global Metamaterial Market Insights 2018: Metamaterial
Technologies Inc., JEM Engineering, Kymeta Corporation,
Echodyne, Truthweek
Nov 2018 Echodyne Adds New CFO, Business Wire
None
11
2014 2015 2016 2017 2018 2019
-
-
2
1
-
Undisclosed
Series C+
Series B
Series A
Seed3
-
-
-
-
US

Foundation Capital
91
Advanced Materials > Investors > Foundation Capital

Founders Fund
92
Advanced Materials > Investors > Founders Fund

93
Advanced Materials > Investors > Mitsubishi UFJ Capital

Formation 8
94
Advanced Materials > Investors > Formation 8

95
Advanced Materials > Investors > Madrona Venture Group

Vulcan Capital
96
Advanced Materials > Investors > Vulcan Capital

Mission Bay Capital
97
Advanced Materials > Investors > Mission Bay Capital

Alafi Capital
98
Advanced Materials > Investors > Alafi Capital

Zygote Ventures
99
Advanced Materials > Investors > Zygote Ventures

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
100
Seed Stage
Early Stage
Late Stage

101
Advanced Materials > Investors > Mitsubishi UFJ Capital

Versant Ventures
102
Advanced Materials > Investors > Versant Ventures

5AM Ventures
103
Advanced Materials > Investors > 5AM Ventures

Tsing Capital
104
Advanced Materials > Investors > Tsing Capital

GRC SinoGreen
105
Advanced Materials > Investors > GRC SinoGreen

Temasek
106
Advanced Materials > Investors > Temasek

107
Advanced Materials > Investors > Innovation Endeavors

The Angels’ Forum
108
Advanced Materials > Investors > The Angels’ Forum

East West Capital Partners
109
Advanced Materials > Investors > East West Capital Partners

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
110
Incubators
Other Notable Investors
Debt Investors

Advanced Materials > Investors > Index of Ecosystem Investors
Index of Top Ecosystem Investors in Advanced Materials; Q2 2014 - Q1 2019
Index of Ecosystem Investors
INCUBATOR
Plug and Play Tech Center (10 Investments)
MassChallenge (4 Investments)
SOSV (4 Investments)
Innovation Works
Startupbootcamp
Innovacorp
Y Combinator
Techstars
HAX
Climate KIC
PreSeed Ventures
RebelBio
Creative Destruction Lab
TIDES Incubation Centre
OTHER NOTABLE INVESTORS
UK Government (3 Investments)
Small Business Innovation Research (2
Investments)
Sustainable Development Technology
Canada (2 Investments)
BASF (2 Investments)
Rusnano (2 Investments)
ATEL Capital Group (2 Investments)
Development Bank of Wales (2 Investments)
Octopus Investments (2 Investments)
Department of Energy
DSM
Capricorn
BDC
National Science Foundation
Alexandria
Applied Materials
DEBT INVESTORS
Mercia Technologies (2 Investments)
NXT Ventures (2 Investments)
Connecticut Innovations
Horizon Technology Finance
BlackRock
MEIF

Plug and Play Tech Center
112
Advanced Materials > Investors > Plug and Play Tech Center
People
Investments
[Minicorn] Footfalls and Heartbeats Limited (2002,
Auckland, $5.4M, Series A)
[Editor's Pick] Circular Systems (2017, Los Angeles, $1.7M,
Seed)
Developer of waste-to-fiber processing systems
[Editor's Pick] TG0 (2015, London, Funded)
Developer of a material based on tactile sensing technology
[Unicorn] Dropbox (2007, San Francisco, $607M, Public)
Cloud-based file sharing and synchronization software
[Unicorn] Guardant Health (2012, Redwood City, $550M, Series
E)
Cancer detection, care and treatment through Digital Sequencing
Technology
[Unicorn] N26 (2013, Berlin, $515M, Series D)
Mobile-first bank for retail customers.
[Unicorn] UiPath (2005, Bucharest, $448M, Series C)
Robotic process automation software
[Unicorn] Sprinklr (2008, New York City, $239M, Series F)
Social Media Presence Management Platform
[Unicorn] PayPal (1998, San Jose, $225M, Public)
Internet payment services provider
[Unicorn] Lending Club (2006, San Francisco, $162M, Public)
P2P online lending marketplace
[Soonicorn] Planet Labs (2010, San Francisco, $351M, Series D)
Microsatellites to maps the earth to provide universal access to
information
Top Exits
Jojo Flores
Co-Founder & VP
Saeed Amidi
Founder & CEO
Dec 2018
Case study: Circular Systems turns scraps into textiles,
Supply Chain Dive
Nov 2018
Foresight makes GBP249,000 MEIF investment in smart
textiles business Footfalls and Heartbeats, Private Equity
Wire
Apr 2018
You Wear What You Eat… New Materials Start-up
‘Circular Systems’ Wins H&M Foundation’s Coveted 2018
Global Change Award for Turning Food Crop Waste into
Sustainable Fashion, Business Wire
Feb 2018
Mitsui USA and PurThread Enter into Distribution
Agreement for PurThread's Technology in Japan, PR
Newswire
Aug 2017
Mango Materials selected for Phase II STTR NASA award,
Bio-based economy
Jun 2017
Footfalls and Heartbeats raises $1.6M to scale smart
textiles, fashinvest.com
May 2017
Footfalls & Heartbeats announce GBP1.25m strategic
funding round, Angel News Newsletter
Mar 2017
Cotton Inc. Ups Performance Angle With PurThread
Partnership, Sector Publishing Intelligence
None
1
2014 2015 2016 2017 2018 2019
9
-
-
-
1
Undisclosed
Series C+
Series B
Series A
Seed6
2
1
1
-
US
Europe
Australia
New Zealand

MassChallenge
113
Advanced Materials > Investors > MassChallenge
People
Investments
[Editor's Pick] RasLabs (2003, Quincy, $25k, Seed)
Developed a polymer-based material that can be used as a synthetic
muscle.
[Editor's Pick] TG0 (2015, London, Funded)
Developer of a material based on tactile sensing technology
[Soonicorn] Flywire (2009, Boston, $137M, Series D)
Global money transfer in local currency
[Soonicorn] Localytics (2008, Boston, $59.7M, Series D)
Mobile App User Analytics & Marketing
[Soonicorn] Pymetrics (2012, New York City, $58M, Series B)
Smart human capital management
[Soonicorn] Redox (2014, Madison, $46M, Series C)
Interface providing API for data sharing between health systems and
software vendors
[Minicorn] SQZBiotech (2013, Boston, $102M, Series C)
Intracellular delivery of macromolecule using Cell Squeeze platform
[Minicorn] Neural Analytics (2013, Los Angeles, $47.7M, Series
B)
Non-invasive method to diagnose mild traumatic brain injury using
transcranial doppler ultrasound
[Minicorn] Cytora (2013, Cambridge, $41.5M, Series B)
Real time data analytics for geographic security threats
[Minicorn] Zagster (2007, Boston, $33.6M, Series C)
Bike sharing solutions provider
[Minicorn] Spyce (2015, Boston, $22.2M, Series A)
Boston based restaurant featuring robotic kitchen
Top Exits
John Harthorne
Founder & CEO
Sep 2015
Ras Labs Is Testing Futuristic Muscle Material That Could
Make Robots Feel More Human, TechCrunch
May 2015
MassChallenge Reveals 2015’s Most Promising Startups,
MassChallenge
None
1
2014 2015 2016 2017 2018 2019
3
-
-
-
-
Undisclosed
Series C+
Series B
Series A
Seed3
1
1
-
-
US
Europe
Israel

SOSV
114
Advanced Materials > Investors > SOSV
People
Investments
[Editor's Pick] AlgiKnit (2017, New York City, $2.9M, Seed)
Developer of sustainable biomaterials from renewable organisms
[Unicorn] DraftKings (2012, Boston, $703M, Series E)
Fantasy sports gaming
[Soonicorn] Getaround (2009, San Francisco, $400M, Series D)
Peer-to-peer carsharing marketplace
[Soonicorn] Breather (2012, Montreal, $120M, Series D)
On-demand Private Room Reservation
[Soonicorn] Formlabs (2011, Somerville, $101M, Series D)
High-resolution desktop 3D printing
[Soonicorn] Leap Motion (2010, San Francisco, $94.1M, Series C)
Making motion control software and hardware
[Soonicorn] WithMe (2016, Las Vegas, $38.8M, Series B)
Designer, builder and lease provider of short-term omnichannel retail
stores
[Minicorn] Perfect Day (2014, San Francisco, $74.7M, Series B)
Produces milk substitute through yeast fermentation
[Minicorn] Yoyowallet (2013, London, $61.5M, Series B)
QR code based mobile payment service provider & consumer behavior
analysis
[Minicorn] Particle (2012, San Francisco, $47.1M, Series B)
Prototype to Production connectivity platform for Internet of Things
[Minicorn] Avidbots (2014, Kitchener, $36M, Series B)
Commercial cleaning robots
[Minicorn] Nura Headphones (2015, Melbourne, $27.4M,
Series A)
Headphones that automatically tune to user's profile
Top Exits
Sean O’Sullivan
Founder & Managing
Partner
Sep 2018 Startups rise to €1M Green Challenge, innovatorsmag.com
Jul 2015
Benthic Labs receives VC funding for biotechnology
research project | SmartBrief, SmartBrief
Aug 2014
Oklahoma nanotechnology company secures $2.7M in
financing, newsok.com
SouthWest
NanoTechnologies
(2001, Norman, $1.7M)
Acq by Chasm Technologies -
Aug 2009
1
1
2014 2015 2016 2017 2018 2019
3
-
-
-
1
Undisclosed
Series C+
Series B
Series A
Seed3
1
-
-
-
US
Europe

115
Advanced Materials > Investors > Imperial Innovations

Innovacorp
116
Advanced Materials > Investors > Innovacorp

TIDES Incubation Centre
117
Advanced Materials > Investors > TIDES Incubation Centre

Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
118
Incubators
Other Notable Investors
Debt Investors

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