Shellworks Secures $15 Million In Series A Funding Led By Alter Equity With Notable Investors

Shellworks, a biomaterials startup based in London, has successfully raised $15 million in a Series A funding round led by alter equity. The investment round saw participation from notable investors including Nat Friedman, JamJar, Founder Collective, Local Globe, and Third Sphere. The company plans to utilize the funds to enhance its global production network and advance its expansion into the US and EU markets as it promotes the adoption of its bio-based material, Vivomer.

Summary of transaction details:

• Deal Type: Series A
• Transaction Amount: $15,000,000
• Company: Shellworks
• Founder: Insiya Jafferjee
• Headquarters Location: London, United Kingdom
• Notable Investors: Nat Friedman, JamJar, Founder Collective, Local Globe, Third Sphere

Founded in 2019 by CEO Insiya Jafferjee, Shellworks focuses on developing sustainable biomaterials. Vivomer, its flagship bio-based material, is already being utilized in packaging for prestigious brands such as Wild at Tesco and Phil’s at Whole Foods, marking significant industry adoption. The company aims to expand its product reach and production capabilities in response to growing environmental concerns and market demand.