A St Andrews-based investor has led a £7.8m series A round into Naturbeads – a UK climate tech startup addressing microplastic pollution.
Eos Advisory led the fundraiser for the University of Bath spinout which is now scaling its innovative plant-based microsphere technology, developed by the company’s co-founders, CTO Professor Davide Mattia, CEO Giovanna Laudisio, and the late Professor Janet Scott.
Microplastics – plastic particles which are less than five millimetres in size – persist in the environment for hundreds of years, contributing to pollution in waterways, marine ecosystems, oceans, and soil.
They have been detected in over 1,300 marine species, are embedded in the food chain, and have raised serious concerns about their impact on ecosystems and human health. An estimated 2 million tonnes of microplastics are added each year to everyday products from cosmetics to detergents, adhesives, paints, and many more.
EU regulations to ban the use of microplastics in cosmetics and other products were published in October 2023, with a view to phasing out rinse-off products like shampoos and face washes by 2027, followed by the phase out of further personal and home care products, and agricultural products including fertiliser.
Naturbeads CEO and co-founder Dr Giovanna Laudisio said: “Microplastics have been found at the top of Arctic mountains and in the depths of the Mariana Trench, with a recent study forecasting that microplastic pollution could more than double over the next decade. Our differentiator from other companies who are trying to solve challenges around plastic packaging, is that we are one of few that is solely focused on the plastic found within daily products, and producing an eco-friendly, scalable alternative.”
Eos led the series A round alongside existing investor Progress Tech Transfer, and new investors CDP Venture Capital through its Corporate Partners I Fund, PI-NB, and Paragon Capital Management in Singapore through its early-stage VC fund, Paragon Ventures I. Naturbeads is set to build its first production plant in Puglia, Italy, and the funding will enable the company to significantly increase its production capacity to meet the growing demand for sustainable ingredients from multiple industries.
Andrew Durkie, Partner, Eos, said: “Giovanna and her team are tackling one of the most urgent environmental challenges of our time, and we look forward to supporting Naturbeads through its next, exciting phase of commercialisation.”
