Agilyx has raised $22m in its series B round from a consortium including two corporate venturing units.
US-listed disposal company Waste Management and Total Energy Ventures International, the corporate venturing unit of French oil major Total are new investors in Agilyx.
Venture capital firm Kleiner Perkins Caufield & Byers led the B round and VC peers Chrysalix Energy Venture Capital, Saffron Hill Ventures and Reference Capital also participated.
Chrysalix, Saffron Hill and Reference invested in Agilyx’s $4.25m series A round in April 2009.
Agilyx, which was previously known as Plas2Fuel, converts waste plastic, which makes up a fifth of garbage dumps, into synthetic crude oil.