Trusscore, Ontario’s leading materials science company, has raised $ 21 million (CAD 26 million) in Series A funding to reduce the construction’s environmental footprint.
The funding round has been led by Round13 Capital through its Earth Tech Fund, which focuses on investing in Environmental, Social and Corporate Governance initiatives. Investors such as Garage Capital, Carol Leaman of Axonify and John Baker of D2L also participated. The total funding obtained by the turn-in startup is more than $ 25 million (CAD 31 million). Craig Strong, Round13 Capital General Partner, said about the round:
“The new Earth Tech Fund is the primary foundation of our environmental, social and corporate governance (ESG). “Trusscore is the perfect investment in launching this fund. Under Dave’s direction, and with a focus on both the company and the construction industry, Trusscore is well positioned to succeed.”
Following successful seed financing in May 2020, Trusscore has experienced rapid growth, which has expanded its manufacturing and distribution capabilities through significant partnerships and acquisitions. Business Canada, one of the longest-running business outlets in the country, has said the startup is one of the fastest-growing companies in Canada for eight years in a row.
“At Trusscore we believe that the only future is a sustainable future. We will help change the environmental impact of construction with sustainable products that will help build a better future for future generations. This investment in trusscore will fuel our growth. Our focus on innovation and materials science is driving the real demand for sustainable alternatives to traditional building materials. “
Yes estimated the impact of the construction industry on climate change is around 50%, which has raised concerns among regulators and companies. After recently expanding into the residential market, Trusscore is developing solutions based on nanotechnology and materials science in millions of buildings. environmental the impact the industry has had.