Carbonwave, a Boston-based biomaterials company that upcycles seaweed into plant-based products, has raised USD 5 million in a Series A funding round led by Mirova, with participation from Viridios Capital, Popular Impact Fund, and Katapult Ocean. 

The funds will be used to expand overall production capacity and support building large-scale cosmetics emulsifier production facilities in Puerto Rico to meet customer demand for biomaterials. 

Carbonwave reports that it has developed a leather alternative made from Sargassum seaweed and is planning to launch it soon. The company also notes that its Sarga Ag,  a line of organic agricultural inputs made from Sargassum's liquid compounds that can increase crop yields and reduce the need for nitrogen fertilizer, is being tested by major corporate growers.

Founded in 2020, Carbonwave upcycles seaweed, particularly sargassum seaweed into biomaterials, including organic fertilizer, a cosmetic emulsifier, and a leather alternative. The company's technology and manufacturing processes create plant-based alternatives to fossil fuel-based products. Carbonwave operates in two locations: Puerto Morelos in Quintana Roo, Mexico, and Carolina in Puerto Rico, and is considering further expansion in the Caribbean. As of date, the company has already sold a significant amount of SeaBalance2000, a seaweed-based cosmetic emulsifier that it developed.