Climate Tech Startup Fiber Global announced that it collected 20 million US dollars in a series -A financing round. The proceeds aimed at expanding its platform in order to convert waste streams into sustainable building products.
The fiber from Indiana, Global Reclaims materials such as paper and cardboard, in 2023, redirected by landfills to create permanent, powerful building materials with significantly lower greenhouse gas emissions. In addition to the reduced emissions, other sustainability includes its products that are highlighted by the company, water and energy savings, preserved landfill space, whereby the products are also formaldehyde-free and do not contain harmful, volatile organic connections.
The flagship of Fiber Global is forged fiber board (FFB), which is made from corrugated corrugated cardboard to produce panels that are used in the furniture and construction industries.
The company said that the new capital is being used to speed up its global expansion, starting with the US production footprint.
The financing round was headed by Venture Capital Investor DBL Partners, whereby the founder and managing partner IRA Honorary Award to Fibre Global's Board of Directors.
Honorary Prize Said:
“Fiber Global builds up a better and more economically convincing product that also has a superior ecological footprint and shows how double the end result is not about compromises or compromises, but about gaining the best value promise.”
KC McCreery, founder and CEO from Fiber Global, added:
“DBL Partners and Ira honorary prize are really part of the Global team and share our mission and vision of winning back tomorrow. This investment round gives us the opportunity to continue to scale the production and production capacity of the United States quickly.”