Cruz Foam, a biomaterial know-how startup primarily based in Santa Cruz, has raised $2.5 million in seed funding to develop the subsequent era of environmental-friendly packaging options.
The seed funding spherical was led by At One Ventures with participation from Sony Innovation Fund, Regeneration.VC, and different environmentally-focused non-public buyers. This spherical brings the whole funding raised by Cruz Foam to $7.2 million, which can permit it to scale its operations and additional broaden the technical back-end know-how infrastructure. Austin Noronha, Managing Director-US, Sony Innovation Fund, referred to the spherical by stating:
“Air pollution as a consequence of polystyrene is a serious situation — particularly for our oceans. With a platform know-how that may empower current supplies manufacturing processes in addition to provide all kinds of froth properties, Cruz Foam basically adjustments the paradigm by making a fully-compostable equal. We’re centered on supporting corporations that develop applied sciences to handle international environmental points akin to local weather change, sources, chemical substances, and biodiversity and stay up for partnering with the staff at Cruz Foam as they create an environment-friendly answer to industries together with electronics, home equipment, and sturdy items.”
Based in 2017, Cruz Foam goals to empower trade leaders to work in the direction of a cleaner atmosphere by offering them with compostable, protecting packaging, foams, and different eco-friendly options. Firms making use of this progressive materials will get pleasure from the identical advantages as petroleum-based foams by way of technical power, flexibility, and protecting qualities with lowered environmental impression. Tom Chi, At One Ventures’ Founding Accomplice, stated on this regard:
“Cruz Foam is taking over plastic air pollution on the root — by inventing a flexible, earth-compatible foam with disruptive economics, requiring no technical recycling to return to the nutrient cycle. We consider this method will assist set the usual for the way forward for packaging and sustainable supplies.”
Regardless of greater than 80 thousand tons of Styrofoam being produced in the USA again in 2019, solely lower than 5 thousand tons have been recycled, in response to the Environmental Safety Company. With considerations across the environmental impression of the rising waste being produced, startups like Cruz Foam are looking for to assist revert the harm by providing eco-friendly options that don’t require organizations to compromise on phrases of effectivity or prices.