Shellworks Raises £5M For Compostable Plastic-Free Packaging
05/25/22, 10:40 AM
Location
londonMoney raised
£5 million
London-based biotech company Shellworks has raised $6.2m (£5m) in seed funding to scale its plastic-free and compostable packaging technology.
Company Info
Location
london, ontario, canada
Additional Info
Founded in 2019, the startup is aiming to ramp up the commercial side of its compostable vegan packaging business by initially targeting the beauty industry, which produces more than 120 billion units of packaging per year. Shellworks first developed compostable ‘plastic’ using polymers taken from shellfish waste, before switching to a “microbially-derived material” in 2020.