Hamburg-based biomaterials startup traceless materials has raised €36.6 million in a Series A funding round. The investment round was co-led by Finnish UB FIGG and Parisian Swen Capital Partners and for the further scaling and the construction of its first industry plant.
- The company claims that its solution saves up over 90% of CO2 emissions, and 89% of fossil energy during production. This granulate can be further processed and used in a wide range of end products including rigid molded parts, flexible films, paper coatings, and/or adhesives.
- Helsinki-based private equity firm United Bankers and Parisian PE firm Swen Capital Partners co-led the fresh round. A local banking syndicate consisting of GLS Bank, Hamburg, and Hamburger Sparkasse also participated in the financing round, as well as the company’s three existing investors, Greentech investor Planet A Ventures, seed investor High-Tech Gründerfonds (HTGF), and deep tech investor b.value.
- United Bankers’ UB Forest Industry Green Growth Fund I LP invests in companies focused on plastic and other fossil based material replacements, higher value, and more efficient use of wood and agricultural raw material. UB FIGG started its operations in January 2023 with over €100 million in investment commitments. UB FIGG’s target size is €300 million and the Fund accepts investments from professional investors until the target amount is reached or until July 2024.
- tracelless material will use the round for the construction of its first industry plant, to produce bio-circular alternative material traceless on a large scale.
