Microplastics-focused technology company Matter announced that it has raised $10 million, with proceeds aimed at helping the company develop its sustainable laundry-focused solutions to keep microplastics out of water systems to commercial and industrial applications.
Founded in 2018, UK-based Matter provides technology solutions for capturing and recycling microplastics, particularly in high pollution areas like wastewater and textiles, with a goal of ending microplastic pollution at its source. According to estimates cited by the company, up to 700,000 microplastic fibers are released from washing machines for each laundry cycle, and oceans currently contain 171 trillion microplastic particles, creating hazards for human and animal health.
Adam Root, founder and CEO of Matter, said:
“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. 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.”
The Series A financing round was led by S2G Ventures and SOUNDWaves, a sustainability-focused investment vehicle founded by Ashton Kutcher and Guy Oseary, with additional funding from Leonardo Dicaprio-backed climate tech venture fund Regeneration.VC , and ocean impact venture fund manager Katapult Ocean.
Kate Danaher, Managing Director at S2G Ventures said:
“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. 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.”