S.Lab funding news – S.Lab Secures $100k in Equity-Free Funding from Google

Google has announced a new $10 million fund for 2024 and 2025, following the successful allocation of a $5 million fund in 2022. The business has already chosen 33 of the 100 Ukrainian startups it intends to fund.

S.Lab has been selected to receive funding to sustain and expand its enterprises while reviving the nation's economy out of 1,600 submissions for the second stage.

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Utilizing the binding force of mycelium and the strength of agricultural waste, S.Lab produces robust and dependable materials that can completely replace foamed plastic and more.

In terms of water resistance and thermal insulation, the material is identical to polystyrene; nevertheless, it breaks down completely in 30 days in soil.

It has created a proprietary production process that is specifically intended for packaging made of plants. The technology has a novel automation approach that makes use of robotics and creative solutions at every level of the production process. It is also extremely scalable, allowing production capacity to be adjusted to meet increasing demand.

Julia Bialetska, CEO of S.Lab said, “It's good to see Ukrainian startups gaining so much visibility on the global stage. Our ecosystem has really grown and become stronger, showing the world just how talented and innovative our entrepreneurs are and how many innovative solutions we have. Google for Startups Ukraine Support Fund has played a big role in helping Ukrainian startups get the recognition they deserve, and it’s exciting to see the impact they’re making in Ukraine and worldwide.”

With these monies, it hopes to improve and advance its production technology designed especially for plant-based products. It combines cutting-edge automation, robotics, and creative processing methods to produce packaging that is 100% biodegradable. S.Lab's distinctive scaling strategy enables it to promptly adjust to market demands, catering to a diverse clientele ranging from small enterprises to multinational conglomerates.

About S.Lab

S.Lab creates environmentally friendly packaging by utilizing just two plant-based ingredients—agricultural waste and mycelium's ability to bind—to assist enterprises' expansion and sustainability. In order to satisfy the increasing demand, S.Lab has created a proprietary production method specifically for plant-based packaging, which enables it to modify production capacity.