Macroalgae plastics startup announces €2-million seed round

In Amsterdam, Biotic has raised €2 million in a seed round that the bioplastics startup will use to build a plant, optimize processes, and increase production capacity.

Biotic’s poly(3-hydroxybutyrate-co-3-hydroxyvalerate) thermoplastic polymers fit a wide range of plastic applications, from flexible to ruggedized, and are produced using macroalgae as feedstock. Macroalgae can be naturally grown in every ocean all year, has positive environmental effects in terms of CO₂, is free of endotoxins, and does not compete with arable land.

“We have successfully accomplished multiple polymers’ production scaling up, achieved non-sterile and continuous processes, and reduced process costs while conducting pilot projects with Fortune 500 companies,” says Adi Goldman, CEO & Co-founder, Biotic. “The Seed proceeds will be used to establish our pilot plant, expand the team, enhance process optimizations to increase efficiencies and yields, expedite our in-house capabilities of production to hundreds of kilograms of PHBV polymers monthly, increase the number of produced polymer types, and achieve market validation by strategic corporate partners.” The round included Paseo Rosalez, UM6P Ventures, The Yield Lab Asia Pacific, Norfolk Green Ventures, Cambridge Agritech, TenNine.vc, and Rockstart.