Woodoo, a French startup that converts wood into luxury materials, has raised USD 31 million in a funding round led by Lowercarbon Capital, with participation from other investors including One Creation and Purple. 

The company plans to use the funding to expand its technology platform beyond luxury goods to building materials that can replace steel and concrete in terms of strength, weight, appearance, and price.

The company reports that it has partnered with Garnica to integrate Woodoo's technology into Garnica's building products portfolio, providing sustainable and high-performance wood-based materials for builders.

The company also notes that it has opened a new 14,000-square-meter manufacturing site to meet the increasing demand for its technology.

Founded in 2017, Woodoo’s proprietary engineering platform converts low-grade and even diseased wood products into premium high-tech materials. This transformation occurs at the molecular level through a process called lignin engineering. The company notes that its technology has attracted interest from top customers in the automotive, luxury, and construction sectors.