Shellworks secures $6.2m in seed funding to scale sustainable packaging operations
LocalGlobe led the seed round for the London-based biotech startup.
≈ £4.9M at $1 = £0.7945 on 25 May 2022
London-based Shellworks produces Vivomer, a bio-based material manufactured by microbe fermentation to replace traditional petroleum plastics.
London-based biotech startup Shellworks has secured $6.2m in seed funding to scale its technology and commercial operations. The round was led by LocalGlobe, with participation from Founder Collective, True Global, BoxGroup, Divergent Capital, and a group of angel investors.
Founded in 2019 by Royal College of Art and Imperial College London alumni Insiya Jafferjee and Amir Afshar, the company produces vegan, microbially-derived packaging designed to decompose naturally within a year. The fresh capital will be deployed to expand manufacturing capabilities and meet growing demand from beauty brands seeking alternatives to petroleum-based plastics.
From the founder
"Our vision is to break the reliance on the petroleum industry by building a new standard of packaging that is performant, cost-competitive and truly sustainable. We work at the intersection of two ecosystems, the natural and the commercial, and we’re constantly trying to play a meaningful, connected and consistent role in both. The beauty industry creates 120 billion units of plastic packaging annually and we’re committed to providing a scalable solution to tackle this and we’re incredibly grateful that we’ve identified a group of investors who share this vision."
Insiya Jafferjee
CEO and co-founder at Shellworks
Investor perspective
"We’re delighted to be backing Insiya, Amir and the rest of the Shellworks team, as they bring the science, creativity and lightning speed we’re used to in tech environments to the world of materials and packaging. It’s been amazing to hear their customers rave about the products they’ve already created, and all of us at LocalGlobe are looking forward to seeing them build an iconic materials house to end plastic waste."
Ferdi Sigona
partner, LocalGlobe
Use of funds
- 01Build out infrastructure
- 02Accelerate go-to-market
Investors
Ferdi Sigona
LocalGlobe
Founder Collective
True Global
BoxGroup
Divergent Capital
Alma Angels
Made
Blue Bottle Coffee
FabricNano
Categories
About the company
Shellworks
Shellworks develops microbe-made biomaterials to replace traditional plastics.