Sparxell Raises $3.2m to Advance Development of Sustainable Pigments [Yahoo! Finance]
L'OREAL UNSP/ADR (LRLCY)
NASDAQ:AMEX Investor Relations:
loreal-finance.com/eng
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Source: Yahoo! Finance
a $3.2m funding round (comprising seed investments, grants, and awards) to accelerate development and commercialisation of products which will eliminate synthetic chemicals from colourants in multi-billion dollar markets including in cosmetics fashion paint , and packaging The Circular Innovation Fund , a global venture capital fund jointly managed by Demeter and Cycle Capital with L'Oréal as an anchor investor, participated in the seed funding alongside others including SpaceX-backer Futre Communities Capital PDS Ventures Katapult Joyance Partners and SNØCAP VC Sparxell was founded in 2022 by Cambridge scientists, led by Dr Benjamin Droguet and Professor Silvia Vignolini, who discovered ways to replicate vibrant colours in nature using fully plant-based cellulose, a renewable, biodegradable resource that can be extracted from waste streams. Sparxell's pigments use the same material that many plants and animals use to produce vivid, durable, and fade-resistant colourants. The prod
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