What's Happening?
Deeptech startups Sparxell and Haelixa have successfully secured pre-series A funding to advance their sustainable innovations in materials and supply chain solutions. Sparxell, a UK-based company, raised $5 million to scale its plant-based color technology, which uses cellulose from wood pulp to create colors without chemical dyes. This technology aims to reduce water usage and eliminate petroleum-based colorants. Haelixa, a Swiss company, secured 2 million euros to expand its DNA-based traceability technology, which marks raw materials to verify their origin and authenticity throughout the supply chain. This funding comes as regulatory scrutiny increases on sustainability claims and supply chain transparency.
Why It's Important?
The funding for Sparxell and Haelixa
highlights a growing investor interest in sustainable materials and supply chain transparency, driven by regulatory pressures and consumer demand for environmentally friendly products. Sparxell's technology offers a sustainable alternative to traditional dyes, potentially reducing environmental impact in industries like fashion and beauty. Haelixa's traceability technology addresses the need for transparency in supply chains, helping brands mitigate risks associated with fraud and regulatory compliance. These innovations could lead to significant shifts in how industries approach sustainability, offering solutions that align with tightening regulations on microplastics and chemical use.
What's Next?
With the new funding, Sparxell plans to transition from pilot projects to commercial-scale manufacturing by 2026, aiming to meet the demand from various industries. Haelixa intends to expand internationally and deepen collaborations with textile brands, focusing on anti-counterfeiting solutions for luxury brands. As regulatory expectations for traceability and sustainability continue to rise, both companies are positioned to play a crucial role in helping industries adapt to these changes. The success of these startups could encourage further investment in sustainable technologies, potentially leading to broader industry transformations.
