Woamy develops a cellulose-based, recyclable and biodegradable foam that is lightweight, strong, mould-free and fast-drying, intended as a substitute for plastic foams such as Styrofoam. The material mimics the directional strength of wood to deliver superior strength-per-density compared with other biofoams and requires no chemical additives or extreme pressures/temperatures. The company was formed from Aalto University’s Foamwood research project and the global IP rights for the foaming technology were transferred to Woamy. Since incorporation in June 2022 Woamy has grown to 11 staff, acquired its first pilot customers in the packaging market, and developed over five proofs-of-concept with support from Business Finland and the Kiuas Accelerator. Woamy closed a €1 million seed round to develop and scale up the technology and advance toward industrial scale. Planned next steps over the coming 18 months include upscaling, building a sea‑container-sized machine, expanding a global customer base, and raising a Series A to fund the first pilot plant.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Jan 2023