Total amount raised
$107 Millions
Latest funding date
06/01/2024
Location
Samsara Eco has successfully raised $100 million over its funding rounds, with significant contributions from investors like Temasek. The company is dedicated to creating infinite recycling solutions to combat plastic pollution.
Keep reading to explore the intricacies of Samsara Eco's fundraising journey and the investors backing this innovative platform.
What Is Samsara Eco?
Samsara Eco, founded in 2021, is an enviro-tech company based in Sydney, New South Wales, Australia. The company operates in the recycling and environmental technology industry, focusing on creating infinite recycling solutions to combat plastic pollution.
Founded by Paul Riley, Samsara Eco employs between 51-100 people. The company uses advanced enzyme-based recycling technologies to break down complex plastics into their original monomers, allowing for the creation of new, virgin-grade plastics without the need for fossil fuels.
Samsara Eco is committed to building a community that supports policy changes and cultural shifts necessary for solving the plastics crisis. The company has received significant funding to expand its operations across Southeast Asia and has been recognized with several awards for its innovative solutions.
How Much Funding Has Samsara Eco Raised?
- Seed Round
- Amount Raised: $6M
- Date: March 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the company's core technology and operations.
- Series A
- Amount Raised: $37M
- Date: November 2022
- Lead Investors: Main Sequence Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the operation of the first proof of concept facility and initiate the construction of a new innovation campus.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: May 2023
- Lead Investors: Lululemon
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To create products from enzymatically recycled polyester.
- Series A+
- Amount Raised: $65M
- Date: June 2024
- Lead Investors: Temasek Holdings, Main Sequence Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up global recycling capabilities, build new commercial facilities in Southeast Asia, and expand the team.
Total Amount Raised: $108M. Current Valuation: Not publicly disclosed.
Key Investors
- Main Sequence Ventures
- Details: Main Sequence Ventures is an Australian deep tech investment fund. They focus on science and technology innovations.
- Investment Focus Areas: Space, health, food, energy.
- Notable Investments: v2food, Q-CTRL, Maxwell Plus.
- Temasek Holdings
- Details: Temasek Holdings is a global investment company headquartered in Singapore. They have a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, life sciences, agribusiness, financial services.
- Notable Investments: Alibaba, Airbnb, Moderna.
- Lululemon
- Details: Lululemon is a multinational athletic apparel retailer. They are involved in sustainability initiatives and innovation in textiles.
- Investment Focus Areas: Sustainability, innovation in textiles.
- Notable Investments: Not specified.
- Hitachi Ventures
- Details: Hitachi Ventures is the corporate venture capital arm of Hitachi, Ltd. They invest in innovative technologies.
- Investment Focus Areas: Digital solutions, smart manufacturing, sustainability.
- Notable Investments: Not specified.
- DCVC
- Details: Data Collective VC (DCVC) is a venture capital firm. They focus on deep tech, AI, and data-driven companies.
- Investment Focus Areas: Deep tech, AI, data-driven companies.
- Notable Investments: Planet Labs, Zymergen, Pivot Bio.
What's Next for Samsara Eco?
With a fresh injection of $100 million, Samsara Eco is poised to scale its enzymatic recycling technology globally. The company plans to build new commercial facilities in Southeast Asia, aiming to recycle millions of tonnes of plastic waste. This expansion will also see the team of chemists, engineers, and technicians grow, enhancing their library of plastic-eating enzymes.
Future fundraising opportunities are likely as Samsara Eco continues to attract interest from investors focused on sustainability. However, challenges such as scaling the technology to commercial levels and navigating regulatory compliance in different regions remain. Despite these hurdles, the company is well-positioned to lead the charge in sustainable recycling solutions.
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