B’ZEOS, a Lausanne-based startup leading the way in sustainable packaging solutions made from seaweed, has closed its seed round led by Faber with participation from ICIG Ventures, the venture capital unit of International Chemical Investors Group (ICIG). The investment brings the company’s total equity and non-dilutive funding to more than €5 million and will be used to scale up the solution.
Founded in 2017, B'ZEOS’ develops seaweed-based solutions that are not only fully bio-based and home-compostable but also compatible with existing packaging production lines. Seaweed’s rapid growth rate, ability to sequester CO2, and lack of dependence on land or fresh water, without releasing microplastics, make it an ideal raw material for sustainable packaging. The material’s versatility is complemented by B’ZEOS’ variety of applications, catering to a broad range of sectors and enabling the company to address diverse packaging needs while supporting corporate partners' sustainability goals.
The company has so far conducted five paid pilots to validate the viability and scalability of their packaging, in collaboration with partners such as Nestlé and other industry players. Additional pilot schemes are planned to further demonstrate the value of the solution, with the potential of reaching a test-shop with its partners.
The closing of their seed round allows B’ZEOS to expand on their technology readiness level (TRL) and bring it further from TRL7 to TRL8. Faber – a specialist VC with over With over 50 investments in early-stage deep tech startups – led the funding round with participation from ICIG Ventures, the venture capital unit of International Chemical Investors Group (ICIG).
The partnership with Faber and ICIG will empower the company to accelerate product development, swiftly meet industry demands, and initiate commercial production for corporate partners. Faber’s commitment to advancing ocean-based technologies makes them an ideal investment partner for B’ZEOS. In addition, the strategic collaboration with ICIG, a privately owned industrial group with an interest in biotechnology and novel materials, will enable B’ZEOS to fine tune its products and increase production by leveraging ICIG’s expertise in compounds.
Rita Sousa, Partner at Faber added: “As global demand for sustainable packaging solutions accelerates, we're excited to partner with B’ZEOS and support their mission of transforming the packaging industry at scale. Our investment aligns with our commitment to back ocean-based innovations that have the potential to drive positive environmental change and reshape industries for a sustainable future”.
“B’ZEOS is pioneering an exceptional approach to sustainable materials, and we recognize that potential” said Dr. Pelin Yilmaz, Investment Director at ICIG Ventures. “Our partnership with B’ZEOS, complemented by the expertise of our compounding platform, allows us to transition towards fossil-free, compostable packaging. We were impressed by B’ZEOS’ tech-oriented team. Their industry expertise enables them to understand the sustainability needs and requirements of the packaging sector, creating solutions that are both robust and versatile.”
The latest round contributes to previous funding from pre-seed biotech investor biotope by VIB, and ocean-tech accelerator Sustainable Ocean Alliance (SOA), as well as private and public grants provided by the Research Council of Norway, Global Seaweed Coalition, Innovation Norway and the Eureka Network’s Eurostars programme. This brings the company’s total equity and grant funding to more than €5 million.
(Press release/RAN)
Image of B'ZEOS co-founders L-R: Camilla Dore, Adriana Kyvik and Guy Maurice
The new Swiss Venture Capital Report was published on 26 January. It analyses 304 financing rounds closed in 2020 and includes further article such as an interview with Michael Hengartner, President of the ETH Board, and a list of Swiss "soonicorns". 
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