$2.4M
The seed round was co-led by Faber and Counteract to scale production of the company's BioPuff insulation.
Portfolio
2
companies
Ponda
Ponda produces plant-based thermal insulation from wetland crops to replace down.
Sparxell
Sparxell develops plant-based, biodegradable colourants to eliminate synthetic chemicals from industrial products.
The seed round was co-led by Faber and Counteract to scale production of the company's BioPuff insulation.
The round drew participation from investors including Circular Innovation Fund, Katapult, and Joyance Partners to accelerate commercialisation.
"The global movement towards plant-based alternatives has experienced exceptional growth in recent years with a reshaping of entire industries such as meat and dairy. The same opportunity exists within colourants, driven by a common interest of consumers, brands and regulators to transition to fully sustainable, biodegradable, circular products. Most brands are committed to eliminating synthetic chemicals from manufacturing processes altogether. Our plant-based materials can be grown and sourced locally in a complete rethink of how colours are currently being manufactured while reducing transport emissions. The industrial applications for Sparxell’s products are broad, from cosmetics and textiles to paints and packaging"