Trusscore, a Kitchener, Ontario-based material science company, has secured C$5.33 million in a seed-stage financing. The angel investors were not identified.
KITCHENER, Ontario–(BUSINESS WIRE)–Trusscore, a material science company that is changing the way people build by combining sustainable materials and nanotechnology, today announced it has completed an oversubscribed CDN$5.33-million seed round of financing.
Proceeds from the financing will assist in research and development aimed toward scaling production of Trusscore’s innovative materials and to continue building and expanding the Trusscore team in support of the growth of the company.
“Trusscore is delighted to have a team of investors comprised of fellow serial entrepreneurs, construction executives, family and friends,” said Dave Caputo, CEO of Trusscore. “Having capital come from investors in the building materials sector is encouraging and humbling. At Trusscore, we are committed to changing the way the world builds, reducing material waste, and leaving the world a better place for the next generation.”
Trusscore was able to demonstrate that commitment by helping to flatten the curve at the outset of the current COVID-19 pandemic. Within a week, the company developed a line of antimicrobial temporary walls – TempWall by Trusscore – that were accepted for use in a number of hospitals and long-term care facilities. Prime Minister Justin Trudeau mentioned the company and its new product during one of his recent COVID-19 media briefings. TempWall by Trusscore will continue to be a priority through the COVID-19 crisis and beyond, helping with physical distancing as the economy slowly reopens.
Trusscore is changing how people build buildings and the environmental footprint left behind when they do. Trusscore is focusing on R&D and bringing material science to its formulations—making its products functional and beautiful. Trusscore Wall&CeilingBoard is changing the way the world builds interior walls with a material that is installed three times faster and is incredibly durable, reusable and recyclable. The company’s marketing and R&D teams are based at the Communitech Hub in Kitchener with manufacturing plants in Palmerston, Ontario and Dayton, Ohio.