Samsara Eco raises $54 million in Series A to address plastic pollution crisis

 A Sydney-based startup that uses plastic-eating enzymes to infinitely recycle waste has raised $54 million in a Series A funding round as it looks to build its first 20,000-tonne commercial facility and expand abroad.

Samsara Eco’s raise was funded by returning investors Main Sequence, Woolworths Group’s W23 and the Clean Energy Finance Corporation (CEFC) Innovation Fund, as well as new backers Breakthrough Victoria, Singapore’s Temasek, Assembly Climate Capital, DCVC and INP Capital.

The fresh capital will be used to bolster the company’s engineering team, develop its library of enzymes and fund its new commercial facility in Melbourne, which will ramp up to full-scale production over the next 12 months to process 20,000 tonnes of plastic from 2024.

Read More: https://www.businessnewsaustralia.com/articles/samsara-eco-raises--54-million-in-series-a-to-address-plastic-pollution-crisis.html