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