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Sparxell, Sustainable Pigment Maker, Raises £2.5m from Backers Including L’Oreal

Screenshot 2024-04-03 at 7.32.27 AM

Sparxell, Sustainable Pigment Maker, Raises £2.5m from Backers Including L’Oreal

Climate Insider Brief:

  • Sparxell, a startup pioneering sustainable pigments for cosmetics, has secured a substantial £2.5m investment from a diverse group of backers, including industry heavyweight L’Oreal. 
  • Founded in 2022 by Cambridge scientists, Sparxell specialises in developing biodegradable, vegan colour pigments sourced from plant-based cellulose extracted from waste. 
  • Beyond cosmetics, Sparxell’s technology finds applications in various sectors like food and beverage colouring, packaging, paint coatings, and textiles. 

PRESS RELEASE – April 03, 2024 – Sparxell, a startup founded by Cambridge scientists to develop sustainable pigments for use in the cosmetics industry, has raised £2.5m from backers including make-up giant L’Oreal.

Founded in 2022, Sparxell develops biodegradable, vegan colour pigments from plant-based cellulose extracted from waste.

Much of the cosmetics industry currently uses chemicals derived from fossil fuels to create colour dyes. The Sparxell team claims its product, as well as being environmentally friendly, produces a more intense and fade-resistant colour than traditional methods.

“Traditional chemical colourants are causing major environmental harm through every stage of their lifecycle, from manufacture to degradation,” said CEO Dr Benjamin Droguet.

“The global movement towards plant-based alternatives has experienced exceptional growth in recent years with a reshaping of entire industries such as meat and dairy.

“The same opportunity exists within colourants, driven by a common interest of consumers, brands and regulators to transition to fully sustainable, biodegradable, circular products.”

The seed investment came from the Circular Innovation Fund, an investment vehicle co-launched by L’Oreal, along with Future Communities Capital, PDS Ventures, Katapult and industry angels.

“The Circular Innovation Fund has invested in Sparxell because its nature-inspired colourants address a range of concerns including plastic waste, carbon emissions, human rights, and water savings,” said Circular Innovation managing partner Stéphane Villecroze.

“With colourants being such an important component of cosmetics, we are especially excited to see the application of Sparxell products in this sector.”

Sparxell’s tech is also used in food and beverage colouring, packaging, paint coatings and the textiles industry.

SOURCE: UK Tech News

Featured Image: Credit: Sparxell