The U.S. company Checkerspot has closed a Series B financing round of $36 million, which will be primarily used for commercial development and the expansion of the company’s product and innovation platform. The financing was led by Viking Global Investors with participation from other existing investors including Builders VC and Breakout Ventures, as well as from Wilbur Ellis’s Cavallo Ventures, a new strategic investor in Checkerspot.
Founded in 2016 and headquartered in Berkeley, California, Checkerspot designs performance materials at a molecular level by using advanced genomics, biotechnology and biomanufacturing processes. The company optimizes microbes to biomanufacture structural oils produced in nature but not previously accessible on a commercial scale. Checkerspot is currently commercializing three materials: Algal Core, a light-weight urethane-based composite; Algal Wall, a cast urethane; and algal oil formulated into MiDori BioWick wicking textile finish, sold in partnership with Beyond Surface Technologies to clothing brands worldwide.
