BEAVERTON, ORE. (Jan. 3, 12:20 p.m. ET) — Agilyx Corp., a startup company that is turning waste plastics into crude oil, announced it has secured $25 million in series C funding.
The newest lead investor is Menlo Park, Calif.-based Keating Capital.
The new round of financing will provide Agilyx with working capital to fund marketing, business development and the deployment of new projects, according to a news release.
“This represents another major achievement for Agilyx,” Chris Ulum, CEO of Agilyx, said in a statement, “à but more importantly, allows us to build a war chest to continue to scale our operations and to use when domestic and international expansion opportunities arise.”
Earlier in the year, Agilyx secured $22 million in series B funding to accelerate growth and expand business operations. Since then, the Beaverton-based company said it has accomplished key milestones that include closing $25 million in sales, tripling its workforce and increasing oil production and revenue.