- Samsara Eco raises $65M to expand recycling facilities, grow team, and scale technologies.
- The startup’s EosEco technology uses enzymes to break down plastic waste into raw materials.
- Samsara Eco partners with Lululemon, aims to help brands meet sustainability goals.
Plastic-munching enzymes to the rescue
Enviro-tech startup Samsara Eco has raised US$65 million in a series A+ funding round led by Temasek and Main Sequence, an Australia-based deeptech investment fund.
The round was also supported by Wollemi Capital, Lululemon Athletica, Hitachi Ventures, DCVC, and Titanium Ventures, adding to the US$37 million Samsara Eco raised in its series A round in 2022.
The company’s patented EosEco technology creates enzymes that can continually recycle plastic waste, breaking it down into raw materials for new products.
Samsara Eco’s sustainability quest
The fresh funds will facilitate the construction of new commercial recycling facilities in Southeast Asia over the next few years, enabling Samsara Eco to grow its global team of chemists, engineers, and technicians, as well as expand its library of plastic-eating enzymes.
They plan to scale its technologies to infinitely recycle all forms of plastics, catering to cross-sector supply chains ranging from automotive to consumer packaged goods.
Samsara Eco has already made progress in the textile industry through its partnership with premium sportswear brand Lululemon to launch a jacket made from enzymatically recycled polyester.
Samsara Eco’s founder and CEO, Paul Riley, believes that the company’s enzymatic recycling technology makes it easy for brands in almost every industry to meet their sustainability and decarbonization goals by creating a circular loop for plastics.
The EosEco technology reduces end-to-end recycling time while operating at a lower temperature and pressure to reduce waste and carbon emissions ultimately.
To read the original article: https://www.techinasia.com/samsara-eco-bags-65m-set-up-recycling-facilities-across-sea
