Tuesday, 8 July 2025
28 C
Singapore
29.7 C
Thailand
22.1 C
Indonesia
28.4 C
Philippines

RWDC, a Singapore biotech startup raises US$133M in Series B funding

On Tuesday, RWDC Industries announced that it had raised US$133 million in a Series B funding round. “We are grateful and excited to have the support of world-class investors who share our urgent mission of solving the global challenge of single-use plastic,” Daniel Carraway, the CEO, and co-founder of the firm said. This newly acquired […]

On Tuesday, RWDC Industries announced that it had raised US$133 million in a Series B funding round. “We are grateful and excited to have the support of world-class investors who share our urgent mission of solving the global challenge of single-use plastic,” Daniel Carraway, the CEO, and co-founder of the firm said.

This newly acquired US$133M will be used to increase the capacity of their production to help them meet the increasing demand for eco-friendly packaging material and to expand manufacturing in Georgia, USA.

RWDC plans to repurpose an idled factory that was originally constructed in the late 1960s as its latest production facility, which will create around 200 new jobs, according to the company. It will also use the newly acquired funds in its development and research projects.

RWDC was founded in 2015 by Roland Wee and Carraway, and since then, it has been developing biopolymer material solutions that include PHA (polyhydroxyalkanoates), a material that is considered eco-friendly and cost-effective.

PHAs are naturally produced from plant-based sugars or oils, and they are the only commercially recognized plastics that are biodegradable in water, soil, and marine conditions, leaving no toxic residue. Products made from PHA can be used in a wide range of consumer goods, including straws, plates, lids, and cups the company said.

This Series B funding round was led by Flint Hills Resources and Vickers Venture Partners, plus other investors. Existing investors such as US-based cross border venture capital firm, WI Harper, and Eversource Retirement Plan Master Trust also participated in the round.

“RWDC exemplifies the kind of company we support – passionate about problem-solving and creating positive social impact. We believe RWDC has the potential to make an enormous difference in solving the global plastics problem, and we’re proud to continue supporting the company and its leadership,” the chairman and co-founder of Vickers Venture Partners, Finian Tan, said.

Hot this week

AI will make cyber defence harder unless you think like a hacker

Cyber experts warn that AI is making cyber attacks smarter, urging firms to adopt a hacker mindset and prepare through simulations.

Alibaba Cloud marks 10 years in Singapore with major AI and cloud expansion

Alibaba Cloud celebrates 10 years in Singapore with global AI tools, new data centres, and expanded services for your digital transformation.

Google Pixel Watch 4 leaks reveal colours, sizes, and new bands ahead of expected August launch

Pixel Watch 4 leaks reveal new color combinations and band options, suggesting a stylish and subtle update ahead of its August reveal.

DeepSWE, powered by Alibaba’s Qwen3-32B, outperforms rivals in global benchmark

Alibaba’s open-source Qwen model powers DeepSWE to global victory in AI agent rankings, signalling a shift in open-weight AI innovation.

Apple could launch a low-cost MacBook with an iPhone chip by 2026

Apple may release a cheaper MacBook with an iPhone chip, possibly launching in late 2025 with the A18 Pro and four colour options.

Huawei defends AI model amid claims of using third-party code

Huawei denies using third-party models to train its latest AI, despite claims from a whistleblower and rising competition in China's tech sector.

AI will make cyber defence harder unless you think like a hacker

Cyber experts warn that AI is making cyber attacks smarter, urging firms to adopt a hacker mindset and prepare through simulations.

Persona 5: The Phantom X finally arrives in Southeast Asia

Persona 5: The Phantom X launches in Southeast Asia with a fresh story, fan-favourite characters, and a special event running until July 31.

TikTok may dodge US ban with new app and ownership deal

TikTok could avoid a US ban with the launch of a new app on September 5 and a possible sale to non-Chinese investors, including Oracle.

Related Articles

Popular Categories