Samsara Eco, an Australian environmental tech startup, is making waves in the market with its innovative solutions for sustainable products. The company produces fossil-free polymer resins that can replace plastic packaging and textiles, offering more environmentally friendly alternatives. Recently, Samsara secured an additional $65 million in funding, bringing its total raised to $73 million since its inception in 2020.
CEO and founder of Samsara, Paul Riley, highlighted the company’s progress since its last funding round in 2022. Samsara has expanded its library of enzymes, allowing it to recycle difficult materials like nylon 6,6, polyester, and nylon 6. The company’s partnership with Lululemon has resulted in the launch of its first product made from enzymatically recycled polyester. This collaboration is a significant step toward sustainable fashion and circularity, reducing carbon footprints and ensuring clothes have an infinite life instead of ending up in landfills.
To further its mission, Samsara is building facilities in Jerrabomberra, New South Wales, and plans to expand its team in North America. The company aims to create pathways to global commercialization and is eyeing Southeast Asia as a future location for commercial facilities. Samsara has already seen strong demand from the apparel and consumer packaged goods industry and plans to enter the automotive and electronics sectors next.
Samsara’s approach to recycling sets it apart from conventional methods. The company’s patented recycling technology, EosEco™, reduces the end-to-end recycling time while significantly cutting down on energy, heat, and carbon emissions. This technology aims to recycle 1.5 million tonnes of plastic per year by 2030, saving millions of tonnes of carbon from entering the planet.
The latest funding round, Series A+, brings Samsara’s total raised to $73 million. The company has a team of 60 staff across Australia and North America, with plans to expand to 90 by the end of 2025. Samsara’s success and continued growth demonstrate the increasing demand for environmentally friendly and sustainable products, providing a promising market for environmental tech companies like Samsara Eco.
