Samsara Eco, an Australian enviro-tech company creating infinite recycling to end plastic pollution, raised AUD 54 million (~USD 34.7 million) in a Series A funding round. New investors such as Breakthrough Victoria, Temasek, Assembly Climate Capital, DCVC, and INP Capital alongside existing investors such as deep-tech fund Main Sequence, Woolworths Group’s W23, and Clean Energy Finance Corporation (CEFC) joined the round of funding.

The funds will be used to support the company in building its first commercial 20,000-tonne facility in Melbourne. Though the company will initially focus on expanding across Australia, it also has plans to expand its presence across North America and Europe as well.

Samsara also reported that it is planning to launch its first enzymatically recycled packaging next year, in partnership with Woolworths Group, which has committed to using the first 5,000 tons of recycled plastic for its packaging.

Founded in 2021, Samsara uses an enzyme-based technology to recycle plastic by breaking them down into molecular building blocks to produce new plastic products, which can be repeated infinite times. The company is expected to infinitely recycle 20,000 tons of plastic starting in 2024 which is when it expects to start generating revenue. The company’s long-term goal is to recycle 1.5 million tons of plastic per year by 2030.