Cove, a Los Angeles, CA-based company providing biodegradable materials and packaging technologies, raised and undisclosed amount in funding.
The round saw participation from Valor Siren Ventures, and existing investors Lupa Systems, and Litani Ventures.
The company intends to use the funds to expand adoption of its biodegradable materials and packaging technologies to consumer-packaged goods companies that are trying to reduce the use of plastic in the industry.
Led by Alex Totterman, CEO and Founder, Cove is a material science company helping global brands transition to sustainable materials. Using proprietary AI development tools, it creates sustainable biomaterials and packaging that are biodegradable, bio-based and renewable, to replace plastics.
Cove commercialized biodegradable water bottles in December 2022, with a test launch in California through premium grocer Erewhon.
Cove is backed by a group of notable investors including Valor Equity, Marc Benioff, James Murdoch, Tony Robbins and Peter Rahal.
FinSMEs
05/10/2023