In North Carolina, biomaterials startup Tethis has raised $17.6 million in funding to help it scale up production of its corn-starch-based diaper alternative.
The Raleigh-based company, founded in 2013 by three graduates of North Carolina State University, has developed the biodegradable alternative to provide a more sustainable option to conventional diaper materials like petroleum-based superabsorbent polymers.
The Series C funding round was led by Chapel Hill-based Blue Hill Group. Prior investors include the Wolfpack Investor Network from North Carolina State University and the Carolina Angel Network from UNC-Chapel Hill.
“We discovered we were able to take our technology and make an alternative based on green renewable ingredients,” Scott Bolin, co-founder, and CEO of Tethis, tells the Courier-Tribune. “We’ve been working on that for several years, and diaper companies have really responded warmly.”
The company is aiming for tens of thousands of tons of material to sell to sell to diaper companies. Tethis is also exploring applications in pulp and paper, cosmetics, and agriculture.