When was Material Evolution founded?

Material Evolution was founded in 2017 and raised its 1st funding round 3 years after it was founded.

Where is Material Evolution located?

Material Evolution is headquartered in London, United Kingdom. It is registered at SUITE 182,21 BOTANIC AVENUE,BELFAST,NORTHERN IRELAND,BT7 1JJ.

Who is the current CEO of Material Evolution?

Elizabeth Gilligan of Material Evolution.

Which legal entities is Material Evolution associated with?

Material Evolution is associated with MATERIAL. EVOLUTION LTD..

How many employees does Material Evolution have?

As of Aug 31, 2026, the latest employee count at Material Evolution is 26.

Is Material Evolution a funded company?

Material Evolution is a funded company, having raised a total of $20.7M across 5 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on 2020.

When was the latest funding round of Material Evolution?

Material Evolution's latest funding was a $***** Venture Debt round on Jun 20, 2025, with participation from 1 investor. Its primary sector is Construction Tech. In United Kingdom, the Construction Tech sector has seen $101M in funding in 2026 to date.

Where does Material Evolution rank among its competitors?

Material Evolution ranks 8th amongst 76 active competitors, of which 27 are funded. It stands 8th in terms of total funding among its competitors. The most recent competitor to raise funding was Paebbl, which secured $4.7M in Dec, 2025.

Who are the top competitors of Material Evolution?

Material Evolution's top competitors include Fortera, Paebbl and Betolar. Among them, Paebbl secured the most recent funding round in December, 2025.

Material Evolution - 2026 Company Profile, Team, Funding, Competitors & Financials

Material Evolution is a series A company based in London (United Kingdom), founded in 2017 by Elizabeth Gilligan and Sam Clark. It operates as a Manufacturer of low carbon cement using industrial waste and byproducts. Material Evolution has raised $20.7M in funding from investors like Techstars, Kompas and Playfair Capital. The company has 76 active competitors, including 27 funded and 3 that have exited. Its top competitors include companies like Fortera, Paebbl and Betolar.

Company Details

Manufacturer of low carbon cement using industrial waste and byproducts. This process utilizes alkali fusion to create binding materials at ambient temperatures. The production method incorporates industrial waste and natural materials to replace traditional clinker. The resulting cement integrates into existing construction workflows and provides structural strength for building projects.

Website: www.materialevolution.com/
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Registered Address: SUITE 182,21 BOTANIC AVENUE,BELFAST,NORTHERN IRELAND,BT7 1JJ

Key Metrics

Founded Year

2017

Location

London, United Kingdom

Stage

Series A

Total Funding

$20.7M in 5 rounds

Latest Funding Round

Venture Debt, Jun 20, 2025, $*****

Investors

Techstars & 12 more

Ranked

8^th among 76 active competitors

Employee Count

26 as on Aug 31, 2026

Similar Companies

Fortera & 49 more

View Material Evolution's full profile

Material Evolution is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
MATERIAL. EVOLUTION LTD. CIN: NI649729 , United Kingdom, Active	Dec 07, 2017	-	11 (As on Jan 31, 2022)

Material Evolution has raised a total funding of $20.7M over 5 rounds. Its first funding round was on 2020. Its latest funding round was a Venture Debt round on Jun 20, 2025 for $*****. 1 investor participated in its latest round. Material Evolution has 13 institutional investors.

Here is the list of recent funding rounds of Material Evolution:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jun 20, 2025	4607412	Venture Debt	9882976	5875563	9955525	9601289
Jun 29, 2023	4358367	Series A	1234775	3419439	7175352	Norrsken VC & 6 more
Nov 22, 2021	2018555	Seed	6895250	6389811	Playfair Capital	At One Ventures & 2 more

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View details of Material Evolution's funding rounds and investors

The founders of Material Evolution are Elizabeth Gilligan and Sam Clark. Elizabeth Gilligan is the CEO of Material Evolution.

Here are the details of Material Evolution's key team members:

Elizabeth Gilligan: Co-Founder & CEO of Material Evolution and founder of 1 other company.
Sam Clark: Co-Founder & COO of Material Evolution.
Contact Info: 1 email address

View details of Material Evolution's Founder profiles and Board Members

Material Evolution's employee count trend

Material Evolution has 26 employees as of Aug 26. Here is Material Evolution's employee count trend over the years:

Employee count trend for Material Evolution

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Top competitors of Material Evolution include Fortera, Paebbl and Betolar. Here is the list of Top 10 competitors of Material Evolution, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Fortera 2010, San Jose (United States), Series C	Manufacturer of cement	$141M	Khosla Ventures, Temasek & 11 others	63/100
2nd	Paebbl 2021, Stockholm (Sweden), Series A	Manufacturer of carbon-storing supplementary cementitious material for the construction industry	$32.9M	Capnamic Ventures, Holcim & 12 others	62/100
3rd	Betolar 2016, Kannonkoski (Finland), Series A	Provider of a finnish materials technology company that develops and provides low-carbon and waste-free solutions to reduce CO₂ emissions and the use of virgin natural resources in the construction and mining industries	$8.26M	Taaleri, KILO Invest & 9 others	58/100
4th	Hoffmann Green Cement Technologies 2014, La Roche sur Yon (France), Public	Manufacturer of decarbonated cements for construction and related applications	$28.7M	Inveready, Economy And Finance	58/100
5th	Brimstone 2019, Oakland (United States), Series A	Manufacturer of cement through the carbon-negative process	$60.1M	DCVC, Breakthrough Energy & 17 others	57/100
6th	Furno Materials 2020, Mountain View (United States), Seed	Developer of low carbon concrete solutions	$11M	Energy Capital Ventures, Breakthrough Energy ... & 4 others	56/100
7th	Carbicrete 2016, Westmount (Canada), Series A	Developer of technology enabling cement-free concrete production using industrial by-products	$22M	FS Investors, Google for Startups & 10 others	56/100
8th	Material Evolution 2017, London (United Kingdom), Series A	Manufacturer of low carbon cement using industrial waste and byproducts	$20.7M	The Heritage Group, Hillside Enterprises ... & 11 others	55/100
9th	Blue Planet Systems 2012, Los Gatos (United States), Series C	Provider of carbon capture and sequestration solutions	$27.4M	Chevron Technology Ventures, Holcim & 2 others	55/100
10th	Ecocem 2002, Bolton (United Kingdom), Series B	Provider of cement for construction industry	$27.1M	Breakthrough Energy, European Innovation Council ... & 2 others	54/100