St Andrews based Eos Advisory has led a £7.8 million series A funding round in Bath startup Naturbeads to help the firm further develop its pioneering technology that addresses worldwide microplastic pollution.
Founded in 2018 as a spinout from the University of Bath, Naturbeads is now scaling its innovative cellulose microsphere technology developed by the company’s co-founders, CTO Professor Davide Mattia, CEO Giovanna Laudisio, and the late Professor Janet Scott.
Naturbeads is already collaborating with a number of global manufacturers to integrate its cellulose microsphere ingredients into various industrial applications, demonstrating that their microspheres break down naturally without compromising product performance, and expects to announce its first commercial milestones during 2025.
Eos Advisory worked alongside existing investor Progress Tech Transfer, and new investors CDP Venture Capital through its Corporate Partners I Fund, PI-NB, and Paragon Capital Management in Singapore through its early-stage VC fund, Paragon Ventures I.
Naturbeads CEO and co-founder Dr Giovanna Laudisio said: “Microplastics have been found at the top of Arctic mountains and in the depths of the Mariana Trench, with a recent study forecasting that microplastic pollution could more than double over the next decade.
“Our differentiator from other companies who are trying to solve challenges around plastic packaging, is that we are one of few that is solely focused on the plastic found within daily products, and producing an eco-friendly, scalable alternative.”
Eos partner Andrew Durkie said: “Giovanna and her team are tackling one of the most urgent environmental challenges of our time, and we look forward to supporting Naturbeads through its next, exciting phase of commercialisation.”
Progress Tech Transfer MD Alberto Calvo said: “The leadership team has bold ambitions in coming up with an industrial-grade solution to tackle microplastic pollution in a variety of different applications, with a platform-technology that is delivering high technical performance with a fully circular approach.”
Agostino Scornajenchi, Managing Director and General Manager of CDP Venture Capital, said: “Naturbeads represents an excellent example of how a project born in the laboratory can evolve to large-scale industrial production, attracting international investment – and we are delighted that they have chosen to create a new production plant in Puglia.”