Biotic, an Israel-based startup producing bio-based alternatives to fossil-based plastics, raised EUR 2 million (~USD 2 million) in seed funding led by Rockstart, Paseo Rosalez, UM6P Ventures, The Yield Lab Asia Pacific, Norfolk Green Ventures, Cambridge Agritech, and TenNine.vc.

The funds will be used mainly to build its pilot plant, increase headcount, enhance process optimizations to increase efficiencies and yields, advance the in-house capabilities of production to hundreds of kilograms of PHBV polymers monthly, increase the number of produced polymer types, and achieve market validation by strategic corporate partners.

Founded in 2020, Biotic (Biotic Circular Technologies) creates fully bio-based, fully biodegradable PHBV polymers using macroalgae and a unique fermentation innovation thereby creating an alternative to fossil-based plastics. The company takes a zero waste and circular economy approach by enabling the optimal transition from fossil fuel plastics with a scalable, fully biological, environmentally friendly process eliminating recycling needs and contributing towards reducing greenhouse gas emissions.