One of UK’s leading microplastic technology and innovation company, Matter, announced this week that it has raised a $10 million Series A funding, which will allow the company to scale its solutions for commercial and industrial applications.
The financing was led by two parties — (1) the direct investment group for Builders Vision, S2G Ventures; and (2) Ashton Kutcher and Guy Oseary's sustainability-focused investment firm, SOUNDWaves.
S2G Ventures Managing Director Kate Danaher praised Matter’s efforts towards sustainability.
"As established partners of Matter, we've been impressed by the relentless determination and speed at which they've been able to develop innovative solutions and demonstrate an instant impact on the industry," she said.
"Continued investment in solutions like the ones Matter provides are critical, if not essential, to ensuring the long-term health of our oceans, and subsequently, the overall health of our planet."
At the same time, SOUNDwaves Managing Partner Katherine Keating talked about how Matter’s technology is crucial in addressing the effects of micro plastic pollution.
"Matter's micro-filtration technology is class-leading and represents a crucial defence against the continuous flow of microplastic pollution from our homes, workplaces and built environments" she said.
"Legislation is inevitable given the ecological and health impacts of microplastic pollution that are becoming better understood every day, and we are already working with Matter to realise the commercial relationships required to bring this impact to industrial scales, mitigating thousands of tonnes of plastic materials entering our environment every year from textile production and industrial wastewater processes."
Both Danaher and Keating will join Matter's expanded Board of Directors.
Additional funding was also provided by the Leonardo Dicaprio-backed Consumer ClimateTech fund Regeneration.VC and Katapult Ocean, which has made a significant follow-on investment via its new Deep Blue Fund since co-leading the Seed investment round, along with a small number of strategic investors.
Matter is an innovation company that aims to capture, harvest, and recycle microplastics using technology solutions.
Matter’s founder and CEO Adam Root talked about the company’s vision and how getting partners and investors is an essential part of attaining that vision.
“Matter's vision is to live in a world without micropollutants. We are dedicated to building the necessary tools, techniques, and scalable solutions to drive this transformation," Root said.
"We knew from the start that as a small company intent on tackling this global problem, we'd need to work with partners who have the scale, vision and resources to help us deliver our technology as quickly and effectively as possible. The combined support and expertise of our investors enables us to accelerate our work, moving beyond laundry into industrial-scale applications of our technology, and drive globally meaningful reductions in micropollutant emissions with confidence and speed."
As part of its efforts, Matter has been working with laundry appliance manufacturers to integrate its technology with their products. This is also in line with the upcoming French legislation that requires washing machines to have microfiber filters installed by the start of 2025.
In addition to that, the company is also working with some textile manufacturers to better understand microfiber fragmentation during the manufacturing process and how the company can help prevent pollution from this process.
Some of its projects include Gulp., Matter. Inside, Matter. Industries, and Matter. Materials.
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