Sway, San Leandro, CA-based startup creating seaweed-based, home compostable replacements for plastic packaging, raised $5M in Seed funding.
The round was led by Third Nature Investments and included investment from The Helm, Alante Capital, BAM Ventures, and Superorganism.
The company intends to use the funds to support the scaling of its product portfolio, and catalyze adoption by fashion, food, and home goods brands such as J.Crew, Burton, and others associated with the TOM FORD Plastic Innovation Prize.
Led by CEO Julia Marsh, Sway is a cleantech startup scaling seaweed-based, rapidly compostable replacements for plastic, beginning with flexible packaging. Representing an entirely new category of biopolymer resin, Sway’s patent-pending Thermoplastic Seaweed resin (TPSea™) is a 100% biobased, home-compostable, microplastic-free ingredient made from a regenerative ocean crop that can replenish ecosystems and support coastal communities.
Its product portfolio made with TPSea™ includes flexible packaging applications such as polybags, retail bags, and food wrappers for consumer brands, representing approximately 30% of all single-use plastic packaging.
FinSMEs
26/02/2024