Novoloop is a venture-backed startup founded in 2015 that develops chemical upcycling technology to transform hard-to-recycle post-consumer plastic waste, particularly polyethylene, into high-performance materials like thermoplastic polyurethane (TPU) branded as Lifecycled TPU and Oistre.[1][2][3] The company serves industries such as footwear, sporting goods, automotive, and apparel by solving the plastic waste crisis—where less than 10% of plastics are recycled—through its patented Accelerated Thermal Oxidative Decomposition (ATOD™) process, which breaks down waste into monomers to create virgin-quality materials with up to 40-45% lower CO2 emissions than traditional production.[2][3][5][6] Headquartered in Menlo Park, California, Novoloop has raised $25M+ (including a $21M Series B in 2025 led by Taranis), completed a demonstration plant in India producing up to 70 metric tons of TPU annually (fully sold out), and is scaling to its first commercial facility.[1][3]
This positions Novoloop at the intersection of sustainability and performance, enabling brands to drop in these materials without a green premium while addressing the projected doubling of plastic demand by 2050.[3][5]
Novoloop was co-founded in 2015 by childhood best friends Miranda Wang (CEO) and Jeanny Yao (COO), both in their early 20s at the time, after they witnessed massive unrecycled plastic waste at a waste transfer station during high school.[1][5][7] Wang, with a background in engineering entrepreneurship and molecular biology, and Yao, a biochemist and environmental scientist, started as a science fair project that evolved into a TED talk, college capstone, and pitch competitions.[5][6] Initially operating as BioCellection, they developed ATOD™ to upcycle plastics like shopping bags into chemicals for polyurethane and nylon; a pivotal rebrand to Novoloop followed as they refined their vision for "Lifecycling™"—remaking waste into molecularly identical, superior materials.[6][7]
Early traction came from investor Bill Liao at SOSV, partnerships with the City of San Jose and GreenWaste Recovery for waste sourcing, and recognition like World Economic Forum Technology Pioneer in 2022 and Forbes 30 Under 30 for Yao.[2][5][6][7] By 2025, a successful demo plant run in India with Aether Industries marked a commercialization breakthrough.[3]
Novoloop rides the plastic circularity megatrend, tackling a market where plastic production (4% of global GHG emissions) is set to double by 2050 amid <10% recycling rates, driven by regulations like extended producer responsibility and consumer demand for sustainable materials.[1][2][5] Timing is ideal post-2020s supply chain disruptions and plastic pollution pledges (e.g., UN treaties), with chemical upcycling gaining traction as mechanical methods fail on mixed waste.[3][6]
Market forces favoring Novoloop include rising virgin plastic costs, brand net-zero goals (e.g., in footwear/automotive), and investor shift to climate tech—evident in its Series B from oil/gas-linked funds betting on circular alternatives.[3][5] It influences the ecosystem by proving upcycling viability, inspiring localized waste networks, and reducing 685M metric tons of annual CO2 impact at scale, bridging waste management with high-value manufacturing.[4][6]
Novoloop's demo success and Series B position it to break ground on its first commercial plant soon, targeting massive scaling of Lifecycled TPU while expanding into TPU scrap recycling and new polymers.[3] Trends like AI-optimized processes, policy-mandated recycled content, and virgin material taxes will accelerate adoption, potentially capturing a slice of the $600B+ plastics market.
As plastic waste volumes surge, Novoloop could evolve from pioneer to category leader, redefining "novo" (good as new) for a waste-free world—transforming the post-consumer scraps once ignored at that high school waste station into the sustainable backbone of tomorrow's products.[1][4][5]
Novoloop has raised $11.1M in total across 2 funding rounds.
Novoloop's investors include Kevin Hartz, Jana Messerschmidt, B Capital Group, Daybreak Partners, Future Shape, GSV Acceleration, Hatteras Venture Partners, Human Capital, Menlo Ventures, Negev Capital, Paradigm, Precursor Ventures.
Novoloop has raised $11.1M across 2 funding rounds. Most recently, it raised $11.0M Series A in November 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 1, 2021 | $11.0M Series A | Kevin Hartz, Jana Messerschmidt, B Capital Group, Daybreak Partners, Future Shape, GSV Acceleration, Hatteras Venture Partners, Human Capital, Menlo Ventures, Negev Capital, Paradigm, Precursor Ventures, Prithvi Ventures, Sequoia Capital, SoftBank Investment Advisers, SOSV, The Hit Forge, Visionaire Ventures, Wollef Ventures, WorkLife Ventures, Biz Stone, Julia Hartz, Mike Krieger, Phil Libin, Rand Hindi | |
| May 1, 2015 | $100K Seed | SOSV |
