Bristol-based Matter, a microplastic technology and innovation company, announced on Wednesday, August 9, that it has raised $10M (approximately €9M) in a Series A round of funding.
The round was led by S2G Ventures, the direct investment team for Builders Vision, and SOUNDWaves, a sustainability-focused investment vehicle backed by Ashton Kutcher and Guy Oseary.
As a part of the funding round, Kate Danaher of S2G Ventures and Katherine Keating of SOUNDWaves will join Matter’s Board of Directors.
Katapult Ocean and Leonardo DiCaprio backed consumer ClimateTech fund Regeneration.VC also participated in the round.
Matter says the funding round will enable it to scale its microplastic filtration technology and accelerate its roadmap of solutions for commercial and industrial applications.
What does Matter solve?
Microplastics, which are plastic particles measuring less than five millimetres, have become widespread due to their use in textiles and clothing. A single laundry cycle releases up to 700,000 microplastic fibres from washing machines into waterways.
The oceans now hold an estimated 171 trillion microplastic particles, with mounting evidence pointing to their detrimental effects on the environment, wildlife, and human health.
“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,” says Adam Root, founder and CEO of Matter.
Matter: Pioneering plastic capture for the good
Founded by Adam Root, Matter is pioneering technology solutions for capturing, harvesting, and recycling microplastics.
The company is on a mission to stop microplastic pollution at its source at the domestic, commercial, and industrial level
Consequently, the company is working with domestic and commercial laundry appliance manufacturers to integrate its technology into their products ahead of incoming French legislation requiring new domestic and commercial washing machines to be fitted with microfibre filters by January 2025.
“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,” says Root.
S2G Ventures, the direct investment team of Builders Vision, partners with entrepreneurs who are working on solutions to some of the world’s greatest challenges across the food, agriculture, oceans, and clean energy markets.
The VC provides capital, mentorship, and value-added resources to companies pursuing innovative market-based solutions that generate positive social, environmental, and financial returns.
The company provides our partners with flexible capital solutions that can range from seed and venture funding through growth equity to debt and infrastructure financing.
“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,” said Kate Danaher, Managing Director at S2G Ventures. “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.”