Are you passionate about innovations in composite materials? Here's some exciting news for you! Woodoo, the French deeptech pioneer in composite materials, has just raised $31 million. In this article, find out more about the company's history, revolutionary products, impressive growth and financial performance.

Woodoo history

Founded in 2017 by Timothée Boitouzet, architect and biologist, Woodoo was born of an ambitious vision: to revolutionize the use of wood by transforming it into a composite material with exceptional properties. Timothée Boitouzet studied architecture at MIT and synthetic biology at Harvard, enabling him to merge his skills to create innovative solutions.

Woodoo: a wood revolution

Woodoo develops and markets composite materials made from modified wood. These materials are reinforced to become stronger than steel, lighter than aluminum and transparent like glass. Woodoo offers products for a variety of sectors, including construction, automotive, aerospace and even fashion, with applications ranging from architectural structures to automotive parts and luxury accessories.

Woodoo in full expansion

Since its creation, Woodoo has experienced exponential growth. The company has succeeded in attracting the attention of numerous manufacturers, and has signed several strategic partnerships to integrate its materials into large-scale projects. Their innovative materials offer a sustainable, high-performance alternative to traditional materials, which explains the popularity of their products.

To accelerate its development, Woodoo has forged partnerships with industry leaders such as Renault and LVMH. These collaborations enable Woodoo to test and deploy its materials on a large scale, strengthening its position in the composite materials market.

Woodoo : finance

Woodoo's recent fundraising of $31 million in 2023 is a milestone for the company. This investment was made with renowned investment funds such as Lowercarbon Capital and OneRagtime, as well as historical investors such as SOSV and The Prince Albert II of Monaco Foundation. This new capital injection brings Woodoo's valuation to around $100 million.

With sales growing strongly, Woodoo is using the funds raised to intensify its R&D efforts, increase production capacity and explore new markets. The company plans to triple production by 2025 and open new facilities in Europe and the United States.

Woodoo: key information

We're talking about them! 

Express: Woodoo, the start-up inventing the wood of the future

LesEchos : Woodoo, the startup with "super-wood" that is already replacing steel, glass and leather