Sparxell raises $5M for cellulose colorants
In the United Kingdom, plant-based colorants maker Sparxell has raised $5 million in a pre-Series A funding round. Located at the University of Cambridge, Sparxell’s patented technology converts cellulose from wood pulp to structural color.
The round was led by SWEN Capital Partners‘ Blue Ocean fund. Alpha Star Capital and Cambridge Enterprise Ventures also participated. The funds will accelerate Sparxell’s transition from pilot- to commercial-scale production.
The company expects metric ton-scale production facilities operational by the end of the year. “We’re at an inflection point,” Dr. Benjamin Droguet, Founder and CEO of Sparxell, said in a press statement. “Brands are under pressure to eliminate synthetic toxins from their supply chains. Momentum is building in Europe around banning forever chemicals such as PFAS. The EU microplastics ban is also now in force, while the FDA is reassessing synthetic color additives.”
Category: Chemicals & Materials
