Cruz Foam, a California-based startup that develops a Styrofoam alternative using seafood waste,  has raised USD 0.9 million in an extended seed funding round led by Leonardo DiCaprio and Ashton Kutcher’s SOUNDWaves. Previously, the company raised USD 2.5 million in its seed funding round in November 2021, which was led by At One Ventures. 

The seed funds are expected to support the company to scale its operations globally and develop its back-end infrastructure necessary for scaling. Cruz Foam also aims to expand the application of chitin (a natural biopolymer found in the shells of shrimp) beyond producing foam-based products to include injection molding and adhesives.

Cruz Foam is looking to supply its foam products to Fortune 500 companies that want to replace traditional styrofoam in packaging and reports that it is in discussions with a number of companies in the TV, food and beverage, and automotive industries to supply its bio-based foam product. The company has been working with popular names like Whirlpool, Ford, and Pepsico to develop bio-based packaging products.  

Following the funding round, Ashton Kutcher and Leonardo DiCaprio would join the advisory board of Cruz Foam.