traceless materials, a Hamburg, Germany-based bioeconomy startup, raised €36.6M in Series A funding.
The round was led by UB Forest Industry Green Growth Fund (“UB FIGG”) and SWEN CP’s Blue Ocean fund, with participation from GLS Bank, Hamburg, Hamburger Sparkasse, Planet A Ventures, High-Tech Gründerfonds (HTGF), and b.value.
The company intends to use the funds to expand the production capabilities for its innovative biomaterial technology to industrial scale.
Founded in 2020 by Dr. Anne Lamp and Johanna Baare, traceless materials provides technology that turns agricultural industry plant leftovers into natural biomaterials that are bio-based, home compostable, plastic-free and have a minimal ecological footprint. The natural biomaterial traceless® is certified completely bio-based, home-compostable, and plastic-free. By using agricultural residues, valuable biomass resources are conserved. The patent-pending technology is based on natural polymers, contains no potentially harmful chemicals, and has a minimal ecological footprint.
To realize the ecological potential, the technology is being scaled up from pilot scale to industrial scale.
The company currently has a team of 40 employees.
FinSMEs
26/09/2023