Halifax advanced materials startup 3D BioFibR has raised $700,000 in what it describes as an “oversubscribed follow-on round,” marking the company’s second six-figure raise since its founding last year.
3D BioFibR was incorporated in July, 2020 and had raised $550,000 by October of the same year. The most recent round included capital from Halifax’s Concrete Ventures and Toronto’s Globalive Capital.
In a press release, the company said the first raise went towards demonstrating the viability of its process for manufacturing biofibres – fibres that exist in nature and are used by humans.