Disruptive Materials absorbs funding

Novax, the growth equity subsidiary of retail and services group Axel Johnson, invested an undisclosed sum today in Disruptive Materials, a Sweden-based advanced materials developer spun out of Uppsala University.
Founded in 2013 and crowned best university-invented technology by GUV the following year, Disruptive Materials produces a magnesium carbonate-based substance branded Upsalite for pharmaceutical, beauty and sports applications.
Upsalite is highly porous, creating a large, alkaline surface area that can help release otherwise insoluble drug compounds and absorb moisture in adhesives such as rock-climbing grip powder.
Disruptive Materials is currently developing cosmetic formulations of Upsalite for products such as make-up, hair care and skin care.
In addition to its investment, Novax will offer its expertise in marketing Disruptive Materials’ offering to “premium” brands across international markets.
Maria Strømme, appointed Uppsala University’s first professor of nanotechnology in 2004, founded the company alongside Mattias Karls, also a co-founder at industrial nano-material supplier Applied Nano Surfaces.
The spinout closed its last round in July 2016, a $3.5m series A backed by undisclosed investors that was not revealed until two months later.
Strømme and Karls are among Disruptive’s largest shareholders along with unspecified private investors, according to the press release.
Joakim Skarborg, chief executive of Novax, said: “With a strong team and a unique product and innovation, we see great potential for growth in many areas for Disruptive Materials. We look forward to following the team in their continued expansion.”