Colorado-based Pretred, a company that produces industrial barriers, has announced a $3 million seed investment led by HG Ventures in Indianapolis. Pretred says it will use the funding to scale manufacturing and launch sales of its blocks and barriers made from recycled waste materials.
Pretred is a graduate of the 2020 cohort of The Heritage Group Accelerator Powered by Techstars, a program for mentoring and developing early-stage companies in the hardtech industries of advanced materials, infrastructure, and environmental services.
“By successfully raising our seed round, we can accelerate our scale up and deploy our barriers and blocks in markets that are in immediate need of high-performance sustainable materials,” said Eric Davis, chief executive officer at Pretred. “We value our partnership with The Heritage Group and have already tapped into their technical and market expertise in construction materials and the circular economy.”
The company says tire waste has become a worldwide environmental challenge, with more than 1 billion sent to the landfill or burned every year. Pretred’s technology recycles about 65,000 tires for every mile of barriers.