Matter Accelerates Growth with $10 Million Series A Funding

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Aug 09, 2023, 14:00 ET

New funding unlocks new solutions for sustainable laundry and the removal of microplastics from wastewater, and demonstrates continued investment in climate tech

BRISTOL, England, Aug. 9, 2023 /PRNewswire/ -- Matter, a microplastic technology and innovation company pioneering solutions for capturing, harvesting and recycling microplastics, today announced that it has raised a $10 million Series A. This funding round will enable the company to scale its microplastic filtration technology and accelerate its roadmap of solutions for commercial and industrial applications.

The round was led by S2G Ventures, the direct investment team for Builders Vision, and SOUNDWaves, the sustainability-focused investment vehicle backed by Ashton Kutcher and Guy Oseary. Kate Danaher of S2G Ventures and Katherine Keating of SOUNDWaves will both join Matter's expanded Board of Directors. Additional investment came from Leonardo Dicaprio backed Consumer ClimateTech fund Regeneration.VC, and Katapult Ocean, which has made a significant follow-on investment via its new Deep Blue Fund since co-leading the Seed investment round, along with a small number of strategic investors.

Microplastics are tiny plastic particles less than five millimeters in size and are produced through the production and use of our clothing and textiles. For each laundry cycle, up to 700,000 microplastic fibers are released from washing machines and into waterways. An estimated 171 trillion microplastic particles currently float within our oceans, and growing research suggests that microplastics are harmful to the environment, as well as human and animal health.

"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," said Adam Root, founder and CEO of Matter. "We knew from the start that as a small company intent on tackling this global problem, we'd need to work with partners who have the scale, vision and resources to help us deliver our technology as quickly and effectively as possible. 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."

Matter is working with domestic and commercial laundry appliance manufacturers to integrate its technology into their products ahead of incoming French legislation requiring new domestic and commercial washing machines to be fitted with microfibre filters by January 2025. Matter is also partnering with textile brands and manufacturers to help them better understand and prevent pollution from microfibre fragmentation in the textile manufacturing process.

"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," said Kate Danaher, Managing Director at S2G Ventures. "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."

With this funding, Matter will leverage their core technology to further develop scalable solutions capable of stopping microplastic and other micropollutant emissions from domestic, industrial and municipal water systems. The solution will capture the microplastics that would otherwise end in sewage sludge to be used as fertilizer or incinerated, enabling a fully circular solution.

"Matter's micro-filtration technology is class-leading and represents a crucial defence against the continuous flow of microplastic pollution from our homes, workplaces and built environments" added Katherine Keating, Managing Partner at SOUNDwaves. "Legislation is inevitable given the ecological and health impacts of microplastic pollution that are becoming better understood every day, and we are already working with Matter to realise the commercial relationships required to bring this impact to industrial scales, mitigating thousands of tonnes of plastic materials entering our environment every year from textile production and industrial wastewater processes."

About Matter:
Matter is an innovation company pioneering technology solutions for capturing, harvesting, and recycling microplastics. Founded in 2018, the company is now a leader in microfiltration with circularity and sustainability at the heart of the business. Their mission is to stop microplastic pollution at source. Matter's development and growth is focused on the creation of solutions to address the major sources of microplastic pollution in wastewater, including the entire textile lifecycle, and supporting education and legislation to drive global impact. For more information about Matter, visit https://matter.industries/, or connect with us on LinkedIn.

About S2G Ventures:
S2G Ventures, the direct investment team of Builders Vision, partners with entrepreneurs who are working on solutions to some of the world's greatest challenges across the food, agriculture, oceans, and clean energy markets. We provide capital, mentorship, and value-added resources to companies pursuing innovative market-based solutions that generate positive social, environmental, and financial returns. We provide our partners with flexible capital solutions that can range from seed and venture funding through growth equity to debt and infrastructure financing. For more information about S2G, visit s2gventures.com, tune-in to our podcast, or connect with us on LinkedIn.

About SOUNDWaves:
SOUNDWaves is a climate-focused investment vehicle that partners with leading brands and corporations to pilot and invest in early-stage solutions greening supply chains. SOUNDWaves is dedicated to supporting the next generation of clean, circular, and sustainable businesses and works closely with founders to scale for enterprise contracts. SOUNDWaves is an extension of SOUND Ventures and is headquartered in Los Angeles, California.

About Regeneration.VC:
Regeneration.VC is an early-stage venture fund Supercharging Consumer-Powered Climate Innovation driven by circular and regenerative principles. We invest in Consumer ClimateTech companies that generate outsized economic and environmental outcomes across three strategies: Design (AgTech & Aquaculture and Next-Gen Materials), Use (Apparel & Lifestyle and Food & Beverage brands), and Reuse (Recommerce and Reverse Logistics system technologies).

About Katapult Ocean:
Established in 2018, Katapult Ocean is an ocean impact venture fund manager headquartered in Oslo, Norway. Since inception Katapult Ocean has invested in over 50 ocean impact tech companies spanning blue foods, ocean energy and circular resource domains. Katapult Ocean drives toward a world where a thriving ocean exists in harmony with economic development. In 2022, Katapult was recognized as an Uplink Top Innovative fund by the World Economic Forum and Katapult Ocean's Accelerator Program was awarded 'Best Nordic Program'. Katapult Ocean's Accelerator Program is a Global Finalist for World's Best Accelerator Program. Katapult Ocean is actively deploying capital from its recently first-closed Deep Blue fund.

Media Contact:
Ally Dunne, Zeno Group
[email protected]

SOURCE Matter