London-based Cocoon Carbon has successfully closed a $15 million Series A funding round to address a critical shortage of materials required for sustainable construction. The investment was co-led by 2150 and Brick & Mortar Ventures, with additional participation from The Venture Collective and several existing investors. The capital will support the deployment of the company’s first commercial demonstration facility in the United States and the expansion of its research and development operations in the United Kingdom.
As traditional sources of supplementary cementitious materials (SCMs)—typically byproducts of coal-fired power stations and iron blast furnaces—are phased out across Europe and the U.S., the construction industry faces a significant supply deficit. Cocoon Carbon has developed a proprietary rapid-cooling technology that integrates directly into electric arc furnaces (EAFs). This “plug-and-play” system converts steel slag into a high-performance cement replacement, reducing the embodied carbon of concrete by up to 40% without requiring a “green premium” or additional energy-intensive processes.
The company’s approach focuses on cost-competitiveness and seamless integration into existing industrial workflows. By co-locating production at steel mills, Cocoon Carbon minimises transportation costs and avoids the need for new logistics infrastructure. With EAF steelmaking projected to double by 2050, the firm aims to roll out its technology across more than 50 sites in the U.S. and Europe to meet the rising demand driven by global infrastructure and data centre construction.
“The SCM market is facing a structural deficit at exactly the moment infrastructure demand is rising,” said Eliot Brooks, CEO and Co-Founder of Cocoon Carbon. “We’re focused on delivering a plug-and-play solution that gives concrete producers access to affordable, local materials—while improving the economics of electric steelmaking.”
“Concrete is one of the biggest value streams on the planet, providing the foundation of our civilisation,” added Jacob Bro, partner and co-founder of 2150. “Cocoon stands out in the innovation landscape with a product that is better and cheaper than cement and delivers a true drop-in replacement product for the industry.”
To support its near-term deployment goals, Cocoon Carbon is currently doubling its team size, hiring process engineers and materials scientists in the UK, alongside technical staff and plant operators in the United States.
