Cruz Foam, Inc., a Santa Cruz, Calif.-based mission-driven sustainable materials company, raised $2.5m in seed funding.
The round was led by At One Ventures with participation from Sony Innovation Fund, Regeneration.VC, and a group of environmentally-focused private investors with backgrounds across industries.
The company intends to use the funds to:
- continue scaling its operations to support the commercial launch of its Fortune 500 companies, and
- expand the technical back-end technology infrastructure with proprietary platforms that will enable the global scaling of its sustainable operations with partners and customers.
Cruz Foam is a bio-material technology company that produces ASTM certified compostable, protective packaging foam, and other eco-friendly solutions that offer a sustainable alternative to petroleum-based products. Its patents-pending products are circular in nature using chitin from seafood waste streams to create a compostable material using the existing supply chain and at a similar cost. The company is currently working with consumer-packaged goods, electronics, appliance, and durable goods companies.
Cruz Foam is also announcing the addition of several high-profile advisors who bring invaluable expertise to the scaling and execution of the company’s strategic plans. New advisors include:
- Hilary Bryant, entrepreneur and former Mayor of Santa Cruz;
- Chuck McBride, Founder and Executive Creative Director of Cutwater Advertising; and
- Michelle Moskowitz, Director, Office of Government Relations, UC Berkeley.