AP Ventures and FH One Investments co-led the latest financing, which also drew participation from Talis Capital, CMPC Ventures, H&M Group, Understorey Ventures, and several angel investors.
Rubi intends to use the newly secured capital to scale up its production systems, commercialise additional product lines, and develop advanced enzyme platforms for improved efficiency and cost reduction.
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The investment comes as the company reports signing multi-year offtake term sheets valued at over $60m with leading fashion brands and manufacturers.
The offtake agreements involve contracts with major industry partners who have committed to purchasing Rubi’s materials over multiple years.
In 2025, Rubi expanded its commercial partnerships from 7 to 15 companies, including Walmart and Reformation.
The company also completed fibre performance testing with several partners and began new pilot projects with businesses in the consumer packaged goods and aerospace industries.
Rubi co-founder and CEO Neeka Mashouf said: “We started Rubi with the vision that cell-free, multi-enzyme pathways would unlock efficient, scalable, high-performance manufacturing for critical materials from CO2.
“We’ve now demonstrated this technology scales effectively and meets or exceeds customer product standards, driving an inflection point of commercialisation. The fresh funding will accelerate our scaling and growth to meet strong global demand for modular and affordable manufacturing of essential materials from waste carbon across textile, CPG, aerospace, and chemicals verticals.”
In addition to financial and commercial milestones, Rubi was included on the Norrsken Impact/100 list in 2025.
Mashouf appeared on the MIT 35 Under 35 list and spoke at the World Economic Forum’s official programme in Davos.
The company added six new members to its scientific advisory board, including experts in biocatalysis, AI enzyme engineering, and cell-free systems, such as Dr Michael Jewett, PhD, Dr Richard Fox, PhD, and Dr Alex Patist, PhD.
Rubi’s platform uses proprietary cell-free enzyme systems to convert carbon dioxide into complex materials such as cellulose polymers. This method differs from conventional fermentation or chemical processing by relying on cascades of specialised enzymes for production.
The system is designed to enable modular manufacturing with reduced capital requirements, while AI- and machine-learning tools support ongoing improvements in enzyme performance.
AP Ventures partner Kevin Eggers said: “Rubi has reached an important transition point, with its technology now demonstrated at pilot scale and clear demand emerging across multiple end markets. The team has made strong progress translating a differentiated scientific platform into early commercial traction. We’re pleased to support Rubi as it moves into industrial demonstration and the next phase of scaling.”
