Matter, an innovative company focused on microplastic technology and solutions, has announced the successful completion of a $10 million Series A funding round. This financial infusion will facilitate the expansion of Matter’s microplastic filtration technology and expedite the development of its range of solutions for both commercial and industrial applications.
Microplastics, minute plastic particles measuring under five millimetres, stem from the production and usage of textiles and garments. During each laundry cycle, washing machines release up to 700,000 microplastic fibres into water bodies. Currently, an estimated 171 trillion microplastic particles are found in oceans, with emerging research indicating that these particles pose risks to the environment, as well as human and animal well-being.
Adam Root, Matter’s CEO and founder, emphasized the company’s ambition to eliminate micropollutants. He underlined the importance of partnerships with entities possessing the scale and resources required to swiftly and effectively deploy the technology. This investment support empowers Matter to expedite its efforts, expand beyond laundry applications, and address industrial-scale implementations of its technology. The goal is to drive significant global reductions in micropollutant emissions.
Matter is collaborating with manufacturers of both residential and commercial laundry appliances to integrate its technology into their products. This move aligns with forthcoming French legislation mandating the inclusion of microfiber filters in new washing machines by January 2025. Additionally, Matter is partnering with textile brands and manufacturers to enhance their understanding of and ability to prevent microfiber fragmentation pollution during textile production.
The funding round was spearheaded by S2G Ventures, which represents Builders Vision’s direct investment team, and SOUNDWaves, an investment initiative with a sustainability focus, backed by Ashton Kutcher and Guy Oseary. This round’s success will see Kate Danaher from S2G Ventures and Katherine Keating from SOUNDWaves joining Matter’s extended Board of Directors. Additional investment contributions came from Regeneration.VC, a Consumer ClimateTech fund supported by Leonardo DiCaprio, and Katapult Ocean, which, after co-leading the Seed investment round, has made a substantial follow-on investment through its new Deep Blue Fund. Several strategic investors also participated.
With this fresh funding, Matter intends to further develop their core technology to create scalable solutions that can effectively halt microplastic and other micropollutant discharges from residential, industrial, and municipal water systems. This solution aims to capture microplastics that would otherwise end up in sewage sludge, potentially being used as fertilizer or incinerated, thus establishing a comprehensive circular approach.
