Adept Materials

Start-up

Sectors: Platform Technology, Building Materials, Apparel, Packaging, Medical

 

 

Company

  • Adept Materials, Inc. has developed a disruptive platform technology addressing moisture management.

  • Initially targeting the built environment, Adept’s technology converts traditional building materials into “smart” materials with superior and directional moisture control, comfort and energy efficiency attributes.

  • Adept’s patented technology is low cost and easily integrated into existing manufacturing processes and installation practices.

Opportunity

  • Point Cove was introduced to Adept’s founder before the company’s first capital raise.

  • With Point Cove’s broad experience and relationships in the building materials sector, we believed we had a unique ability to diligence the opportunity and influence the outcome of this early-stage company.

  • Adept was seeking capital and knowledgeable board representation to take the company from initial lab discovery to pilot stage development and commercialization.

Investment Thesis

  • Moisture damage related to mold and structural rot is a significant issue in the built environment, resulting in tens of billions spent annually in repair and medical costs due to damage caused by mold and damp exposure.

  • Current systems and materials employed to manage moisture are suboptimal, having to balance and compromise moisture management with energy efficiency and the cost of construction.

  • Introducing a low-cost material that can manage moisture more effectively and directionally with existing building materials creates significant value throughout the channel (homeowners, builders, manufacturers).

Execution

  • Point Cove led seed investment with two other venture capital firms, Slater Technology and Mass CEC.

  • Point Cove Founder joined Adept Board of Directors

  • Point Cove introduced Adept to experienced building products experts and prospective commercial partners to help facilitate the development of a pilot product and commercialization of the technology

  • Proof-of-concept lab demonstrations and pilot materials in development