Materia Raises $14.9M

Pasadena-based advanced chemistry technology developer Materia has raised $14.9M in the first part of what looks to be a $50.0M fundraising effort, according to a regulatory filing this week. Details on the funding have yet to be announced by the company. Materia develops Nobel prize winning technology for the production of small, medium, and large molecules, called metathesis, which was developed at Caltech. Materia's technology was developed by Caltech Nobel Prize winner Robert H. Grubbs, and has been licensed to a long list of companies, including Dow, BASF, and others. More information »