Biopolymer company raises $3.6 million from 76 investors

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In North Carolina, biopolymer startup Tethis IP Holding Co. has raised $3.6 million in funding.

Tethis was spun out of North Carolina State University in 2013 and produces Tethex superabsorbent biopolymers from simple carbohydrates.  Applications include diaper cores, feminine hygiene products, processed meat additives and soil stabilization.

According to a filing with the Securities and Exchange Commission, 76 investors participated in the round. The financing closely follows a $17.6 million funding round in February aimed at scaling up commercial production for the diaper industry.