Earthodic, a Geebung, Queensland, Australia-based bio-packaging startup, raised $6m in Seed funding.
The round was led by FTW Ventures, with participation from Circulate Capital, the Queensland Investment Corporation (QIC), UniQuest Fund, Significant Capital Ventures, Branch Venture Group, RedStick Ventures, Tenacious Ventures and Investible, Closed Loop Partners, and other US-based angel investors.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Anthony Musumeci, Earthodics provides Biobarc™ by Earthodic, its water-resistant coating, which protects paper-based packaging from moisture and increases its strength. Its carbon content is 100% bio-based and allows the packaging to be repulped and recycled at the end of its life.
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