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Flexsea CEO & Founder -Carlo Fedeli, CTO & Founder -Thibaut Monfort-Micheo
From its dual-headquartered operation sprawled between London and Lisbon, FlexSea has invested a staggering €2.3 million, thanks to a prolific seed funding round. Steering the financial helm is Indico Capital Partners, supported by a coterie of investment titans, including RedRice Ventures, Btomorrow Ventures, Food Foundry, Vala Capital, ICON Capital, and Pente Capital.
Oh, but wait—there's more to this financial mosaic.
Factoring in a munificent €1.5 million in grants from esteemed bodies like Innovate UK, the grand financial haul for FlexSea hovers around a jaw-dropping €3.5 million. So, where's this cash influx going? FlexSea's R&D labs and operation hubs in the UK and Portugal will be the principal beneficiaries.
At a time when humanity squanders more than 12 trillion barrels of crude oil annually to churn out a mind-boggling 380 million tons of plastic material, the issue becomes glaringly apparent. What's worse? A significant chunk of these materials meet a dismal end—single-use and not recycled. We're essentially dumping the equivalent of one garbage truck full of plastic into our oceans. Every. Single. Minute.
FlexSea's CEO and co-founder, Carlo Fedeli, said: "This investment will allow us to make significant progress and penetrate the market effectively. Indico has a significant track record of closely backing founders, and we are very happy to work together and with our other investors to take FlexSea to the next level."
Enter FlexSea. Their groundbreaking bioplastic films and rigid tech are here to pull the plug on this environmental mayhem. The brilliance? They're fully biodegradable—both on land and sea. You can toss them into your home compost, which will break down in 8 to 12 weeks. Designed with dry food and non-food applications in mind, this is the innovation we've been pining for.
Co-founder and CTO Thibaut Monfort commented: "This is a turning point for the company as an entity and a great reward for the hard work and dedication of the whole team of 10 amazing people who will benefit from this funding in their everyday research and development activities. We are heavily investing in equipment and machinery for in-house R&D, speeding up the process tremendously."
Founded in the challenging year of 2020, FlexSea is setting out to redefine what packaging means in the 21st century. Their disruptive biopolymers, ingeniously sourced from kelp and other sustainably harvested natural resources, are containers with a conscience designed to guard their contents only as long as they are relevant.