Hamburg-based biomaterials startup traceless materials has raised €36.6 million in a Series A funding round. The startup intends to use the investment to scale the production capabilities of its plastic alternative beginning with the construction of a demonstration plant.
The Series A round was co-led by Helskinki-based private equity firm United Bankers and Parisian PE firm Swen Capital Partners. GLS Bank, Hamburg, and Hamburger Sparkasse participated in the financing round alongside existing investors, Planet A Ventures, High-Tech Gründerfonds (HTGF), and b.value.
While a generation or two prior might have lived the life plastic fantastic, today, you’d be hard-pressed to find such a positive outlook on a material derived, essentially, from fossil raw materials. And that’s to say nothing of the mining and transportation costs to the environment even before the processing and production thereof.
While traceless is by no means alone in its quest to cut plastics from our daily lives, Hamburg-based one • fıve comes to mind, the company hopes to stand apart from the crowd through its bio-based, home-compostable, and plastic-free solution based on the science of agricultural residues.
According to the startup, when compared to traditional plastics, traceless’s granulate solution saves up to 91 percent of CO2 emissions, and 89 percent of fossil energy during production. This granulate can be further processed using standard technologies in the plastics and packaging industry. Meaning, material can be used in a wide range of end products including rigid molded parts, flexible films, paper coatings, and/or adhesives.
Lead image via traceless materials. Photo: uncredited.