Earthodic lands $1.85 million to help make packaging water-resistant and compostable
Earthodic is looking to disrupt the packaging space with its water-resistant coating that it says can be recycled and composted.
Brisbane materials startup, Earthodic, has just announced an oversubscribed $1.85 million pre-seed funding round.
Tenacious Ventures and Investible led the round, and were joined by Twynam Group and USA-based Closed Loop Partners.
Launched in 2022, Earthodic has created a bio-based coating solution called Paperbarc that offers enhanced water resistance and strength to paper and packaging. The added bonus of Paperbarc is that it also allows the material to be recycled and composted, unlike many wax and plastic-coated products.
According to Earthodic, Paperbarc is a suitable alternative for agricultural and food supply chain packaging in particular due to their need for water resistance. For example, it could replace wax fruit boxes or be used to store seafood that is kept in cold storage.
It is still waiting on certification for the end-of-life aspect to the coating, which isn’t entirely surprising given the current challenges facing compostable packaging in Australia. It’s a red-tape-lined but important area to be tackled, and it is exciting to see another Aussie startup taking a run at it.
Recently its Paperbarc technology received its 100% USDA Biobased Product Label certification in the United States, giving the company the ability to participate in the USDA Biopreferred Program. Hopefully, Australia won’t be too far behind.
“I am grateful for the incredible support of our investors, who share our unwavering passion for sustainability and circularity, and wholeheartedly believe in our mission to create a better future for all,” said Anthony Musumeci, co-founder of Earthodic.
“We are excited about the early success we’ve achieved, and cannot wait to explore future opportunities to scale up our technology and continue creating a positive impact.”
According to the company, the fresh cash injection will be used to grow the company across the board, including a scale-up of its tech stack, expanding its IP, and increasing its sales and marketing.
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