The round was led by Envisioning Partners with participation from Valo Ventures and Bemis Associates; earlier investors who joined the round included SOSV, Mistletoe, and TIME Ventures.

Novoloop was founded in 2015 to deliver quality chemicals and materials made from plastic waste through their patented, low-carbon upcycling technology process ATOD™. By transforming hard-to-recycle plastic waste into virgin-quality materials, Novoloop offers superior sustainability and performance at competitive pricing. With upcycled product Oistre™, Novoloop provides thermoplastic polyurethane solutions for footwear, sporting goods, automotive and more.