Sparxell raises $3.2 million to scale production of sustainable plant-based pigments

Sparxell raises $3.2 million to scale production of sustainable plant-based pigments

Sparxell, a UK-based developer of high-performance, sustainable, plant-based pigments, recently raised $3.2 million to support company expansion and upgrade operations.

• Company Overview: Founded in 2022 by Cambridge scientists Dr. Benjamin Droguet and Professor Silvia Vignolini, Sparxell produces pigments that replicate vibrant colors in nature using fully plant-based cellulose.

• Product Highlights: The pigments are renewable, biodegradable, and toxin-free. They offer fade-resistant color intensity lasting longer than traditional pigments.

• Market Opportunity and Growth: Sparxell's plant-based materials can be grown and sourced locally, reducing transport emissions. Industrial applications include cosmetics, textiles, paints, and packaging.

• Investment and Future Plans: The Circular Innovation Fund, managed by Demeter and Cycle Capital with L’Oréal as an anchor investor, participated in the seed funding. Other investors include SpaceX-backer Future Communities Capital, PDS Ventures, Joyance Partners, and SNØCAP VC.

The global movement towards plant-based alternatives has created a growing market for sustainable products. The funds raised will support Sparxell in expanding manufacturing capacity, securing product development partnerships, conducting more product trials, and expanding headcount.