UK-based Sparxell has successfully raised $3.2 million in funding to advance the development and commercialization of sustainable plant-based pigments. These pigments aim to replace synthetic chemicals in various industries, including cosmetics, fashion, and packaging.
The funding round saw contributions from the Circular Innovation Fund, supported by L’Oréal, and other notable investors such as SpaceX-backer Future Communities Capital and SNØCAP VC. Founded by Cambridge scientists Dr. Benjamin Droguet and Professor Silvia Vignolini, Sparxell utilizes cellulose derived from plant waste to create vibrant, long-lasting, and biodegradable colourants.
With the global colourants market projected to reach over $100 billion by 2030, Sparxell is targeting key sectors such as beauty, fashion, and automotive paint. The company has already formed partnerships with leading brands in these industries and plans to initiate a Series A funding round soon to scale up production and fast-track market entry.
“Traditional chemical colourants are causing major environmental harm through every stage of their lifecycle, from manufacture to degradation. Over 10,000 fossil-based chemicals are used in current colouration processes. The textile industry is a well-known emitter of dyes and microplastics, with over 1.5m tonnes entering the environment every year, while paint has recently been recognised as the largest source of microplastics in the ocean,” said Dr Benjamin Droguet, Sparxell Founder & CEO.
“Our plant-based materials can be grown and sourced locally in a complete rethink of how colours are currently being manufactured while reducing transport emissions,” added Dr Droguet.