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§ Private Profile · Boston, MA, USA
Biomaterials from upcycled Sargassum seaweed are carbon-negative, replacing fossil fuel products for cosmetics, fashion, manufacturing.
Based in Boston, Massachusetts, Carbonwave is a biomaterials company that upcycles excess Sargassum seaweed into carbon-negative alternatives for conventional fossil fuel-based products. The company operates scalable cascading biorefineries across Mexico and Puerto Rico to extract proprietary biopolymers used in global cosmetics, agriculture, and fashion textiles. Carbonwave has raised $12 million in total funding, which includes a $5 million Series A round to expand its commercial emulsifier production and develop new leather alternatives. The organization projected avoiding nearly 10,000 tonnes of carbon dioxide equivalent emissions in 2023, with strategic plans to scale this volume to over 300,000 tonnes within three to five years. The enterprise is backed by institutional investors and impact funds, including Mirova, Viridios Capital, Katapult Ocean, and Pegasus Capital Advisors. Carbonwave was founded in 2020 by Geoff Chapin and Ben Ellis.
Carbonwave has raised $15.0M across 3 funding rounds.
Carbonwave has raised $15.0M in total across 3 funding rounds.
Carbonwave has raised $15.0M in total across 3 funding rounds.
Carbonwave's investors include Dale Galvin, Pegasus Capital Advisors, Katapult, Natixis, Eddie Listorti, Jason Holt.
Carbonwave has raised $15.0M across 3 funding rounds. Most recently, it raised $6.0M Other Equity in June 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 23, 2023 | $6M Venture Round | Dale Galvin, Pegasus Capital Advisors | — | Announced |
| Mar 23, 2023 | $5M Series A | — | Katapult Accelerator, Natixis, Eddie Listorti | Announced |
| Nov 5, 2021 | $4M Venture Round | — | Jason Holt | Announced |