The round was led by ArrowMark Partners, with participation from Cox Enterprises and other new and existing investors. Allen & Company LLC advised Checkerspot on the transaction. The funding accelerates Checkerspot's development and commercialization of high-performance, biobased alternatives for everyday products.

Checkerspot designs materials and ingredients at a molecular level to enable more sustainable, high-performing products. By optimizing microalgae, Checkerspot's vertically integrated WING™ Platform biomanufactures unique oils that not only reduce dependence on commodity oils and petroleum derivatives, but can improve performance properties in everyday consumer products including hardgoods, textiles, personal care, and food.