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Elevance Raises $100 Million in Funding Round

11:23 AM MST | December 21, 2010 | Vincent Valk

Biomaterials start-up Elevance has raised $100 million in a Series C funding round, the company announced today. The funding round is the company's third. Naxos Capital partners led the round. Other investors included Total Energy Ventures and TPG Biotech. TPG has been an investor in Elevance since 2007. The proceeds from the funding will go towards the construction and expansion of biorefineries. Earlier this year, Elevance entered into a joint venture with Wilmar International (Singapore), a maker of palm oils, to build the world's largest biorefinery in...

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