Trusscore, a material science company that combines sustainable materials and nanotechnology, has raised a $5.33 million CAD seed round of financing.
The round was led by a group of private individuals, which Dave Caputo, CEO of Trusscore, said included “serial entrepreneurs, construction executives, family and friends.”
“We are committed to changing the way the world builds, reducing material waste, and leaving the world a better place.”
Founded in 2007, Trusscore’s goal is to change the way “people build buildings and the environmental footprint left behind when they do.” According to the company, its Wall&CeilingBoard can help change the way interior walls are built, by using a material that is installed “three times faster and is incredibly durable, reusable and recyclable.”
The company is focused on the research and development (R&D) of its building material, and plans to use the seed funding to assist with that as well as help scale production. The company also plans to grow the Trusscore team, which, according to LinkedIn, currently sits around 33 employees.
Trusscore’s marketing and R&D teams are based out of the Communitech Hub in Kitchener, with manufacturing plants in Palmerston, Ontario and Dayton, Ohio.
“Having capital come from investors in the building materials sector is encouraging and humbling,” said Caputo. “At Trusscore, we are committed to changing the way the world builds, reducing material waste, and leaving the world a better place for the next generation.”
Is your community in need of a preventative solution to help #FlattenTheCurve?
Take a look at this recent #Ontario project, which used TempWall by Trusscore — a total of 50-bed spaces, by 20 volunteers, in less than 3 hours.
Learn more here — https://t.co/UddPRvQMxH pic.twitter.com/5mKxNh6hZY
— Trusscore (@trusscore) April 14, 2020
Amid COVID-19, Trusscore developed a line of antimicrobial temporary walls, called TempWall by Trusscore, to help with physical distancing. According to the company, the walls have been accepted for use in a number of hospitals and long-term care facilities. Trusscore noted that TempWall will continue to be a priority for the company through COVID-19 and beyond.
Prime Minister Justin Trudeau acknowledged the work being done by Trusscore at one of his daily briefings in March. He pointed to the company providing the TempWall as an example of Canadian companies pitching during the pandemic.