What is Checkerspot?
Checkerspot operates at the intersection of biotechnology and advanced materials, leveraging precision fermentation of microalgae to design and produce sustainable, high-performance oils and polymers. These bio-based materials serve a diverse range of industries, including textiles, personal care, and outdoor equipment, offering a renewable alternative to traditional petroleum-based ingredients. The company's innovative approach addresses the growing demand for eco-friendly solutions in manufacturing and consumer goods, establishing it as a key player in the green materials market.
How much funding has Checkerspot raised?
Checkerspot has raised a total of $109M across 4 funding rounds:
Angel/Seed
$5M
Series A
$13M
Series B
$36M
Series C
$55M
Angel/Seed (2018): $5M with participation from Godfrey Capital, DIC Corporation, KdT Ventures, Viking Global Investors, Sahsen Ventures, and Refactor Capital
Series A (2019): $13M led by Breakout Ventures, Plug and Play Ventures, Godfrey Capital, Builders VC, KdT Ventures, Viking Global Investors, and Sahsen Ventures
Series B (2020): $36M supported by Breakout Ventures, Builders VC, Cavallo Ventures, and Viking Global Investors
Series C (2023): $55M featuring ArrowMark Partners and Cox Enterprises
Key Investors in Checkerspot
ArrowMark Partners
ArrowMark Partners is an asset manager specializing in alternative credit and growth equity, providing capital to companies poised for expansion. They are known for their expertise in identifying and supporting growth-stage ventures.
Cox Enterprises
Cox Enterprises is a diversified global conglomerate with significant investments in communications, automotive, and media. They are actively pursuing strategic investments in emerging technologies, including clean technology and healthcare.
Breakout Ventures
Breakout Ventures focuses on investing in transformative companies driven by scientific innovation and technology. They are known for their early-stage investments in companies aiming to create new markets and scale scientific advancements.
What's next for Checkerspot?
The recent major strategic investment signals a new phase of development and scaling for Checkerspot. This capital infusion is expected to fuel further research and development into novel bio-based materials, enhance production capabilities, and expand market penetration across its target sectors. With a clear focus on replacing petroleum-based components with sustainable alternatives, Checkerspot is poised to capitalize on global trends toward environmental responsibility and circular economy principles. The company's continued innovation in microalgae-based materials will likely drive significant advancements in sustainable product design and manufacturing.
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