Participated · Equity · Feb 2023

Loliware develops seaweed-derived resins and materials intended to replace conventional plastics across a wide array of products. Its resins are fully compatible with existing plastic extrusion equipment, enabling manufacturers to swap seaweed pellets for plastic pellets. The materials compost easily and enrich soil once broken down. The company has commercially launched single-use drinking straws, cups, utensils and films. Loliware raised $6 million in its latest financing, bringing total pre-Series A funding to $15.4 million; the company says the funds will be used to grow the market for seaweed materials, launch new products and seaweed resins, and expand R&D. Founded in 2016 and based in San Francisco, Loliware has secured both institutional and strategic backers. Loliware develops kelp-based, plastic-like disposable straws (and planned cups and utensils) using a proprietary material and manufacturing process that preserves performance while enabling biodegradability. Founder and CEO Chelsea "Sea" Briganti led the company through extensive R&D and more than a thousand prototypes to create scalable material technology and new manufacturing practices. Demand has grown rapidly: the company says it has gone from a few million to a hundred million in recent years and projected a billion straws shipping in 2020. Loliware plans to license its automated manufacturing technology to strategic plastic or paper manufacturers rather than producing billions of straws in-house. The company is building supply-chain governance via an Algae Sustainability Council and a “Zero Waste Circular Extraction Methodology” to ensure sustainable, equitable seaweed processing. The recent seed funding will be used to accelerate scaling and further R&D for additional straw types, a cup and a utensil.