Chemical startup gets pre-seed funding
Pyran LLC, a Madison-based chemical startup developed by UW–Madison student Kevin Barnett and his professor, George Huber, received $120,000 from a new investor group, Wisconsin River Business Angels (WRBA), based in Plover, Wisconsin. WRBA is a subsidiary of Midwest Wealth Ventures LLC. WRBA led Pyran’s $250,000 pre-seed funding round, which is expected to close next week.
Pyran has developed a method of converting feedstock derived from corncobs into a compound used to create environmentally friendly plastics and paint chemicals, according to a BizTimes.com article.