The Hamburg-based, female-founded startup traceless materials has developed a holistically sustainable alternative for plastics and bioplastics that is fully compostable in nature, contributing to solve the global plastic pollution. The circular bioeconomy startup was now able to raise a lower million Euro amount in its first financing round from Planet A, HTGF and b.value AG just seven months after the company's founding.
The investment will be used to hire traceless’ core team as well as to build the company’s pilot plant, scaling production from laboratory scale to producing sufficient material to bring first pilots to market in early 2022. Companies from the consumer-facing-goods industry as well as packaging and plastic-conversion companies show great interest in the materials. This comes as legislative pressure and customer demand as well as the urgency to stop negative impact on the environment create a unique situation for traceless to disrupt the plastic market.
To learn more, read the full press release below: