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Bcomp, a Swiss supplier of flax-based textiles to BMW and Volvo, closed a $40 million Series C, the company tells Axios.

Why it matters: The plastic alternative helps trim emissions by reducing vehicle weight. 

The big picture: Swiss firm EGS Beteiligungen led the round, joined by Verve Ventures, Zürcher Kantonalbank and RKKVC.

Existing investors Generali, Airbus Ventures, BMW i Ventures, Porsche Ventures and Volvo Cars Tech Fund participated.

How it works: Bcomp's flax-based fabric matcan be 50% lighter than typical plastic, carbon fiber or glass, and cut emissions by as much as 60%, the company says. 

The material was first developed to reinforce backcountry skis.

It's now being used in Volvo's electric EX30 compact SUV, and BMW's performance M4 GT4.

Bcomp raises $40M to make car interiors from flax

The material was initially developed for backcountry skis.

A phot of Bcomp’s brown-hued textiles, woven to illustrate how they may be used in car interiors, such as door or dashboard panels.

A sample of Bcomp textiles illustrating how they may be used inside a car. Photo: Courtesy of Bcomp

Climate tech

Bcomp, a Swiss supplier of flax-based textiles to BMW and Volvo, closed a $40 million Series C, the company tells Axios.Why it matters: The plastic alternative helps trim emissions by reducing vehicle weight.

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Bcomp raises $40M to make car interiors from flax

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