Valor Siren Ventures is a  joint venture created by Starbucks and Valor .

Valor Siren Ventures

LA-based early-stage fund backing the next rising technologies, products, and services that delight consumers and transform commerce.

BAM Ventures

The Sustainable Ocean Alliance (SOA) is a global organization that advances the impact of start-ups, social enterprises and youth-centered initiatives that are developing solutions to protect and sustain our ocean. SOA’s pipeline of ocean leaders, ages 16-35, is cultivated through a chapter-based model, led by students at the high school and college levels, as well as by young professionals.

Sustainable Ocean Alliance

Conservation International Ventures LLC (''CI Ventures'') is an impact-first investment vehicle

Conservation International Ventures

Climate Capital is an investment firm that supports companies that directly or indirectly reduce global greenhouse gas emissions.

Climate Capital

Investing across deep tech, clean tech, consumer tech and SaaS, Alante Capital pairs a comprehensive investment strategy with deep sector expertise to build a risk adjusted portfolio with the potential for superior returns alongside transformative social and environmental impact.  Our deep industry focus and system-change approach give us the unique edge to find, select and support the most outstanding entrepreneurs modernizing the apparel industry.

Alante Capital

Centre Street Partners is an early stage focused investment fund.

Centre Street Partners

Third Nature Ventures is an early-stage venture capital vehicle. We invest in the most promising innovations and technologies, seeking to address the most urgent and massive challenges we face within our most critical earth systems. Specifically, TNV seeks to identify and invest in the business model inflection point.

Third Nature Ventures

The Helm is a generalist seed-stage fund investing in companies with at least one female founder. We are investing in founders who take a broad view of the needs of the world, and are using technology to create novel, enduring solutions to difficult problems.

The Helm

Circle Fund for Climate Technology I is an AngelList rolling fund in which accredited investors can invest in early-stage climate tech startups that are developing and scaling people-focused businesses that address the world's most pressing climate challenges.

Climate Tech Circle

Superorganism is a venture fund for biodiversity.

Superorganism

Sway

Sway is a clean tech startup scaling seaweed-based, home-compostable packaging. Their patented products match the vital performance attributes of conventional plastics and are designed to plug into existing infrastructure, enabling scale and massive impact. Unlike plastic, however, their materials are made from an abundant, regenerative resource and decompose into healthy soil after use.  In 2023, Sway won first place in the TOM FORD Plastic Innovation Prize. In 2021, Sway also won the Beyond the Bag Challenge sponsored by Closed Loop Partners and a consortium of major retailers. Sway’s solutions have garnered recognition from Vogue, Condé Nast, Forbes, Business Insider, and Fast Company. As a member of the Sustainable Packaging Coalition, the Sustainable Ocean Alliance, and 1% for the Planet, Sway is working holistically to scale their product for a thriving, equitable future.  Sway is headquartered in the California Bay Area. Learn more at swaythefuture.com.

<div>Sway is a startup that develops bio-plastic packaging solutions from seaweed. The company&rsquo;s TPSea (Thermoplastic Seaweed) resin is derived from sustainably sourced, ocean-farmed macroalgae and is available as TPSea Resin pellets and TPSea Flex Film form. Sway uses a proprietary formulation to blend the polymers with renewable starches and sugars and transforms it into resin and films with the help of manufacturers. Sway sources seaweed from a global network of vetted ocean farms. The harvested seaweed is dried and natural polymers are extracted by seaweed processors. The company also offers Polybag packaging pouches, retail bags, food wrappers, and flexible, clear packaging window inserts. Product applications span multiple industries, including fashion, beauty, and food.</div>

Earth-friendly biotech solutions for the textile, packaging and construction industries.

Bio-based Materials

Umaro Foods

To support the development of new processing techniques to upcycle alginate sidestreams from Umaro's seaweed protein production into Sway's seaweed-based biomaterials.     

Developers of alternatives to plastic and other materials used in packaging

<div>
 
 Sway is a startup that develops bio-plastic packaging solutions from seaweed. The company&rsquo;s TPSea (Thermoplastic Seaweed) resin is derived from sustainably sourced, ocean-farmed macroalgae and is available as TPSea Resin pellets and TPSea Flex Film form. Sway uses a proprietary formulation to blend the polymers with renewable starches and sugars and transforms it into resin and films with the help of manufacturers. Sway sources seaweed from a global network of vetted ocean farms. The harvested seaweed is dried and natural polymers are extracted by seaweed processors. The company also offers Polybag packaging pouches, retail bags, food wrappers, and flexible, clear packaging window inserts. Product applications span multiple industries, including fashion, beauty, and food.
 
 
 
 
 Sway claims its flexible film is the first of its kind and has a manufacturing process that can be scaled globally. The company&rsquo;s packaging is non-toxic, GMO-free, and can be composted at home or industrially. Sway is yet to commercialize its product as of February 2024; however, it has entered several product development partnerships to explore the potential of its packaging solution.
 
 
 
 
 Key customers and partnerships:
 
 
 In April 2023, the company partnered with design studio Graf Lantz to use seaweed-based packaging for wine-note cards. In November 2023, Sway partnered with EcoEnclose Unite to create and introduce a retail box that incorporates Sway&rsquo;s seaweed-based flexible films. In December 2023, footwear brand Ales Grey partnered to use seaweed based packaging for shoes. In February 2024, the company began testing packaging materials with retailers J. Crew and Burton.
 
 
 
 
 Funding and financials:
 
 
 In February 2024, the company raised USD 5 million in a seed round led by Third Nature Investments, with participation from The Helm, Alante Capital, Bam Ventures, and Superorganism, among others.
 
 
 In October 2023, the company received a USD 272,000 Small Business Innovation and Research (SBIR) grant from the National Science Foundation (NSF) to scale the next generation of Sway&rsquo;s product.
 
 
 
</div>

<div>
 
 Bolt Threads manufactures vegan &ldquo;spider&rdquo; silk and mycelium-based materials. Bolt Threads develops isolated silk proteins from proteins inspired by spider silk through a yeast fermentation process. The company&rsquo;s Microsilk products are sold under its clothing brand, Best Made Co. The company has also developed another biomaterial using mushroom-based mycelium, an alternative leather product branded as Mylo, which was expected to be produced on a larger scale.&nbsp;
 
 
 In September 2021, Bolt Threads announced its plans to produce Mylo on a commercial scale by the end of 2022 and expected to collaborate with mushroom farmers to heighten its mycelium crops. Though the company reported 
 <a href="https://sp-edge.com/updates/19867">
 halting production of Mylo
 </a>
 in June 2023 due to inflationary pressure and lack of funding, in October 2023, the company announced entering a 
 <a href="https://sp-edge.com/updates/22431">
 SPAC deal
 </a>
 to go public on the Nasdaq.&nbsp;
 
 
 For its Microsilk product, Bolt had a production capacity of 32,000 sq ft per annum as of 2018. Since Microsilk remains significantly more expensive than traditional silk, the founders were seeking ways to scale up.&nbsp;
 
 
 Key customers and partnerships
 
 
 For its Microsilk product, Bolt Threads launched its first collaboration in 2017 with fashion designer Stella McCartney and introduced its second prototype in the form of a biodegradable tennis dress.
 &nbsp;
 
 
 The leather alternative Mylo has been used in collaborations with Stella McCartney, Seattle-based leather bag manufacturer Chester Wallace, and Canadian athletic apparel retailer Lululemon. In October 2020, the Mylo Consortium was also formed including Adidas, Stella McCartney, Kering, and Lululemon, who collectively have made a seven-figure investment into Bolt Threads to produce Mylo. In return for their investments, these brands would have access to a large supply of the product.&nbsp;
 
 
 Stella McCartney has been experimenting with Mylo to create clothing prototypes with plans to use the material in upcoming collections. Adidas used Mylo to produce high-performance footwear for the first time in April 2021 by making a vegan version of its &ldquo;Stan Smith&rdquo; sneaker design that dates back to 1965 and had plans to expand the use of Mylo material in its other products including handbags, wallets, shoes, jackets. In February 2022, 
 <a href="https://sp-edge.com/updates/8404">
 Lululemon
 </a>
 launched a Mylo-based yoga bag collection, which included a multipurpose yoga bag and a storage bag for workout gear. Mylo was also used by Danish luxury brand Ganni for the launch of its limited edition Mylo-based wallet range and one-of-a-kind saddle-bags in June 2022. Ganni&rsquo;s partnership with Bolt Threads included plans to release more Mylo-based products in Q1 2023. With growing demand for its Mylo product, 
 <a href="https://sp-edge.com/updates/8884">
 in February 2022, 
 </a>
 the company partnered with Mycelium Materials Europe (MME) for the commercial production of Mylo but had not been able to materialize its plans.
 
 
 Funding and financials
 
 
 The company&rsquo;s last funding round was a USD 123 million Series D in January 2018 led by Baillie Gifford. The funds were used to commercialize the company&rsquo;s Microsilk&nbsp;products.
 
 
 
</div>

Bolt Threads

MycoWorks is a manufacturer of alternative leather using mushroom-based fungi. Its proprietary brand, Reishi, is manufactured using a patented process called “Fine Mycelium”, which uses fungi’s capacity to bind to itself and carbon-based materials in producing durable three-dimensional material. The benefits of Reishi, according to MycoWorks, include its tensile strength (the force needed to pull material to its breaking point) at 10 Megapascals (MPa), compared to the average cowhide tensile strength of 8.5 MPa. Reishi is also customizable (in terms of sizing and specifications) allowing growing direct-to-design products that eliminate waste from cutting and trimming.Mycoworks operates three Reishi plants as of January 2022. The third plant in California has an annual production capacity of 80,000 sq ft of material per year, increased the company’s production tenfold, and reportedly reached a milestone of producing 10,000 trays of Fine Mycelium after a year of operation. The company is also building a new USD 107 million worth manufacturing facility in Union, South Carolina, with operations expected to commence in 2023. The new facility reportedly is expected to produce several million sq ft of Fine Mycelium per year. In August 2023, the company announced opening a <a href="https://sp-edge.com/updates/20757">136,000 square foot plant </a>&nbsp;which will produce Reishi that has been embraced by luxury brands like Hermès and Ligne Roset for various applications and was expected to begin operation on September 20, 2023.Reishi remains in the prototype development and testing phase. The company announced that the material is currently being tested in clothing, shoe, wallet, and handbag design. Key customers and partnershipsThe company indicated in November 2020 that the first luxury fashion and footwear products containing Reishi will be launched in partnership with leading fashion and footwear brands in the coming months. MycoWorks also partnered with Hermès, the French luxury goods manufacturer, in March 2021 to use a material named “Sylvania”(a Fine Mycelium-based material developed by the two companies over three years) in a sustainable version of Hermès’s “Victoria” travel bag, by the end of 2021. In <a href="https://sp-edge.com/updates/24584">November 2023</a>, the company partnered with YUME YUME for interactive Reishi-based installation at Stedelijk Museum. Funding and financials<a href="https://sp-edge.com/updates/7804">In January 2022</a>, MycoWorks raised USD 125 million in a Series C funding round led by Prime Movers Lab. The funding was expected to accelerate commercial production of Reishi and support in R&amp;D, technology development, and hiring new employees.

MycoWorks

Checkerspot is a manufacturer of microalgae-based performance materials which are used to produce consumer products, including skis and surfboards. The company modifies microalgae’s genes to derive new molecular building blocks and then bioengineers production of consumer products. Microbes are optimized to biomanufacture unique, natural structural oils that were previously not accessible on a viable, commercial scale. The company’s primary focus is on high-performance polyurethanes and coatings made from bio-based oil via fabrication.The company’s commercialized products include Algal Core (a light-weight urethane-based composite) and Algal Wall (cast urethane), both products are offered under the WNDR Alpine brand while algal oil is sold under the miDori bioWick. In February 2021, WNDR Alpine, Checkerspot’s outdoor brand, received the B Corp Certification, private certification granted to for-profit companies by the B Lab, a global non-profit organization formed to support the movement of using businesses as a force for good. Key customers and partnershipsThe company has partnered with Beyond Surface Technologies (BST) to commercialize miDori BioWick, an algal oil used in BST’s wicking textile finish. As of August 2020, the company’s co-development partners also included W.L. Gore and DIC Corporation.Funding and financialsIn its latest funding round in <a href="https://sp-edge.com/updates/16362">February 2023, </a>Checkerspot raised USD 55 million in Series C funding led by ArrowMark Partners to accelerate the development and commercialization of biobased alternatives for everyday products and expand into markets, such as industrial applications, personal care, and food and nutrition.

Checkerspot

Mi Terro converts milk waste into sustainable yarn, using a self-developed technology known as Pro-Act that extracts casein protein molecules from milk. The protein is purified and undergoes a dynamic flow shear spinning process, converting the casein to sustainable fiber. The resulting yarn is claimed to be three times softer than cotton and has applications in textiles, food packaging, bedding, personal care, and medical sectors. Mi Terro has also developed a limited-release ocean-waste duffle bag. Key customers and partnershipsThe company has partnered with Nike, Danone, Toyoshima, DFA, Mitsubishi, Lair East Labs, Dole, Budweiser, and Harada. In <a href="https://sp-edge.com/updates/23179">October 2023</a>, the company partnered with Lipton to develop dissolvable tea pods. Funding and financialsThe company completed two rounds of funding in 2020, raising USD 100,000 in January 2020 and USD 50,000 in March 2020. In January 2021, the company also won the Meda Million Dollar Challenge and received a USD 300,000 prize. In March 2022, the company raised USD 1.5 million in a Seed round led by Astanor to scale up production.

Mi Terro

Modern Meadow develops collagen-based materials from plant proteins, using a range of biofabrication processes including the creation of bio alloys, solution dyeing, protein design, and fermentation. The focus of the company is on the luxury branded market with its fully biodegradable proprietary brand, “ZOA”. Modern Meadow also reports that it is developing “Bioleather1 (BL1)”, an alternative to chrome tanned bovine leather made using its proprietary BioAlloy process. According to research published by the company in <a href="https://sp-edge.com/updates/8431">February 2022 </a>, BL1 reduces greenhouse gas emissions by 80% and 20% compared to traditional and synthetic leather respectively. It also reduces water consumption from groundwater sources, land use, and the subsequent degradation of water bodies during the process by 95% compared to conventional leather production.In April 2020, Modern Meadow announced plans to commence commercial production later that year and was actively looking for manufacturing partners. As of the same date, Modern Meadow employed between 70-90 staff at its 72,000 sq ft factory in New Jersey.Key customers and partnershipsModern Meadow announced a partnership with Evonik in March 2018, to develop and scale-up the commercial production of fermentation-based products.In April 2021, the company reported that it would announce collaborations with fashion brands and industry partners during the following six to nine months. In <a href="https://sp-edge.com/updates/15657">January 2023 </a>, Modern Meadow partnered with Taiwan-based sustainable fabric company, Singtex to develop biomaterials for various applications, beginning with a sustainable, waterproof, membrane-based material for the outdoor apparel market. In <a href="https://sp-edge.com/updates/16786">February 2023 </a>, the company partnered with US luxury brand, Tory Burch, to launch Tory Burch’s first plant-based leather alternative tote, the Ella Bio, powered by Modern Meadow technology, Bio-Alloy.In June 2023, it also formed a strategic partnership with <a href="https://sp-edge.com/updates/19178">Navis TubeTex </a>, a provider of textile machinery, to develop a sustainable textile manufacturing process. During the same month, it also formed a strategic partnership with <a href="https://sp-edge.com/updates/19868">BASF </a>to create an animal-free material called Bio-VERA that replicates the look, feel, and aging properties of traditional leather, suede, or chamois.In <a href="https://sp-edge.com/updates/30500">June 2024</a>, the company partnered with Earthletica to unveil the Bronte Jacket which used Bio-Alloy Shield technology.Funding and financialsIn April 2021, the company raised USD 130 million in a Series C funding round led by Key Partners Capital to (i) develop the company's biofabrication technology, used in creating an alternative to fossil-fuel-based textile coatings; and (ii) scale-up and commercialize its collagen-based leather material.

Modern Meadow

Developers of materials with applications across apparel, automobile, home goods, etc.

Developers of non-leather material alternatives such as wool, silk, and viscose—mostly for apparel

Developers of alternative materials for industrial applications such as sporting goods, electronic components, and automotive parts

Reuses waste to create bio-based materials

Sustainable alternatives to materials like animal leather, silk, plastic

PROMINENT_CATEGORY

<div>
 Sway and Umaro, startups focused on seaweed-based products, have been awarded a $1.5 million Mixed Algae Conversion Research Opportunity (MACRO) grant. The grant was provided by the US Department of Energy as part of a larger $20.2 million funding given to 10 different projects across universities and industries.
 The received funding will be utilized in the development of new techniques that can convert alginate sidestreams from Umaro's seaweed protein production into biomaterials for Sway.
 The startup, Sway, is known for its "TPSea" pellets which are entirely made from seaweed and plants. These pellets can either be extruded alone or can be combined with compostable polymers. The TPSea pellets are already being used in Sway's Polybags, however, the company has expansion plans to delve into flexible packaging applications, which currently account for 40% of all packaging derived from fossil fuels.

</div>

Sway

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