Cruz Foam, a biomaterial know-how startup primarily based in Santa Cruz, has raised $2.5 million in seed funding to develop the subsequent technology 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 personal traders. This spherical brings the entire funding raised by Cruz Foam to $7.2 million, which can permit it to scale its operations and additional develop the technical back-end know-how infrastructure. Austin Noronha, Managing Director-US, Sony Innovation Fund, referred to the spherical by stating:
“Air pollution resulting from polystyrene is a serious difficulty — particularly for our oceans. With a platform know-how that may empower current supplies manufacturing processes in addition to supply all kinds of froth properties, Cruz Foam basically modifications the paradigm by making a fully-compostable equal. We’re centered on supporting corporations that develop applied sciences to handle world environmental points reminiscent of local weather change, assets, chemical substances, and biodiversity and sit up for partnering with the group at Cruz Foam as they bring about an environment-friendly resolution to industries together with electronics, home equipment, and sturdy items.”
Based in 2017, Cruz Foam goals to empower business leaders to work in direction of a cleaner surroundings by offering them with compostable, protecting packaging, foams, and different eco-friendly options. Corporations making use of this revolutionary materials will take pleasure in the identical advantages as petroleum-based foams when it comes to technical energy, flexibility, and protecting qualities with decreased environmental influence. Tom Chi, At One Ventures’ Founding Accomplice, mentioned 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 strategy 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 US again in 2019, solely lower than 5 thousand tons had been recycled, in response to the Environmental Safety Company. With considerations across the environmental influence of the growing 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.
