Sparxell raises $3.2 million for biobased pigments

In the United Kingdom, Sparxell, a developer of plant-based pigments, has completed a $3.2-million funding round. The cash will be used to accelerate development and commercialization of its pigment sin cosmetics, fashion, paint, and packaging applications.

Sparxell was founded in 2022 by Cambridge scientists, led by Dr. Benjamin Droguet and Professor Silvia Vignolini, who discovered ways to replicate vibrant colors in nature using fully plant-based cellulose extracted from waste streams. The products are toxin-free and fully biodegradable with an intensity that lasts longer than traditional colorants and pigments on the market.

“Over 10,000 fossil-based chemicals are used in current coloration processes,” said Droguet, also Sparxell CEO. “The textile industry is a well-known emitter of dyes and microplastics, with over 1.5 [million] tonnes entering the environment every year, while paint has recently been recognized as the largest source of microplastics in the ocean.”

The Circular Innovation Fund, a global venture capital fund jointly managed by Demeter and Cycle Capital with L’Oréal as an anchor investor, participated in the seed funding alongside others including SpaceX-backer Futre Communities Capital, PDS Ventures, Katapult, Joyance Partners and SNØCAP VC.