CA-based Sway secures $5million in seed funding. The Helm, Alante Capital, BAM Ventures, and Superorganism were among the investors in the round, which was headed by Third Nature Investments.
The company plans to use the money to assist the expansion of its product line and to encourage home goods, fashion and culinary brands like Burton, J. Crew and others connected to the TOM FORD Plastic Innovation Prize to adopt the technology.
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Sway, a cleantech business led by CEO Julia Marsh, is growing seaweed-based, quickly biodegradable plastic substitutes, starting with flexible packaging.
Sway’s patent-pending Thermoplastic Seaweed resin (TPSeaTM), which is created from a regenerative ocean crop and is 100% biobased, home-compostable, and microplastic-free, is a whole new class of biopolymer resin. It can support coastal populations and replenish ecosystems.
About 30% of all single-use plastic packaging is made of flexible packaging applications like polybags, retail bags, and food wrappers for consumer brands, all of which are part of its product portfolio created using TPSeaTM.
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About Sway
Sway is a cleantech company that is starting with flexible packaging and gradually replacing plastic with quickly biodegradable alternatives based on seaweed. Their innovative products are built to integrate into the current infrastructure, allowing for scale and competitive cost, while matching the essential performance characteristics of conventional plastics.
