The Bristol biotech secured the backing to expand manufacturing capabilities and grow its footprint across European markets.
"Decarbonising construction cannot come at the expense of cost or performance. The challenge has been scaling biomaterials industrially and integrating them into real construction supply chains."
Thrive Capital is set to lead the financing round, which would value the artificial intelligence drug discovery startup at more than triple its previous raise.
Oxford Innovation Finance backed the spatial intelligence platform to support international expansion and product development.
"This investment allows us to accelerate growth, expand internationally and deepen integrations with the systems our customers already use. We’re unlocking a new layer of insight for physical spaces, turning data into decisions that drive revenue and improve experiences."