Woodoo raises €6 million to scale up
The French manufacturer of ‘augmented wood’ has announced on LinkedIn that it has just secured €6 million in funding to help it scale up its operations.
The French company Woodoo has announced in a LinkedIn post [in French] that it has been selected for the 8th cohort of Bpifrance’s “Première Usine” programme, as part of France 2030. The company offers “augmented wood”, a composite material produced by replacing lignin (the glue that binds wood fibres) with a high-performance cellular binder.
This funding marks a turning point for the company, explains CEO Timothée Boitouzet: the move towards large-scale industrialisation. He explains in his post that the company’s ambition, by industrialising its process on a large scale, is to help rebuild a French timber industry that supplies the construction sector. Woodoo’s objective is to achieve an annual production capacity of 10,000 m³ by 2027, thereby offering a competitive alternative to reinforced concrete, steel and aluminium. The company emphasises that this is a low-carbon, competitive material that can be scaled up.
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