Biotic, an Amsterdam, Netherlands-based producer of bio-based alternatives to fossil-based plastics, raised €2M in Seed funding.
The round was led by Paseo Rosalez, UM6P Ventures, The Yield Lab Asia Pacific, Norfolk Green Ventures, Cambridge Agritech, and TenNine.vc, alongside with Rockstart.
The company intends to use the funds to to build a plant, optimize processes, and increase production capacity.
Led by CEO Adi Goldman, Biotic produces bio-based alternatives to fossil-based plastics. Its thermoplastic polymers fit a wide range of plastic applications, from very flexible to very ruggedized products. Biotic’s process extracts the carbon source of biomass, macroalgae, which is naturally grown in every ocean all year long and has positive environmental effects in terms of CO2, is free of endotoxins, and does not compete with arable land. The company uses saline water in the process, reducing energy consumption and contamination risks.
FinSMEs
08/11/2022