TLDR:
– The Lumber Manufactory raised $4.1 million in seed funding round
– Company aims to build sustainable sawmills with next-generation technology
The Lumber Manufactory has raised $4.1 million from unidentified investors in a seed funding round to build sustainable sawmills with next-generation technology. The Washington, D.C.-based startup is focused on developing a modular, flexible, and fast sawmill design that enables the sustainable manufacturing of dimensional wood products. The company set a target of $6 million in funding and had 23 investors participate in the round.
Co-founders Andrew Arsht and Michael Grasso, along with board member Michael Parker, are the key people linked to the startup. Arsht, with a background in law and pro bono counsel, brings a unique perspective to the team. Grasso, who has experience in economic advising and corporate strategy, adds a wealth of knowledge in the industry.
Grasso’s previous roles at Luxembourg Space Agency, Blue Origin, and Adranos highlight his expertise in the field of rocket motor systems. Anduril Industries acquiring Adranos in 2023 shows Grasso’s continued success in overseeing sales and strategy at a leading manufacturer.
