[Funding alert] Hamburg-based Bioeconomy Startup Traceless Raises €36.6 million in Series A Funding

The Series A funding round is led by private equity fund UB Forest Industry Green Growth Fund ("UB FIGG"), which invests in sustainable and resource-efficient forest and bio-based industries, and complemented by SWEN CP’s Blue Ocean fund, which invests in innovations that help address the three existential threats to ocean health: overfishing, pollution, and climate change.

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Anne Lamp, Co-Founder & CEO: “Through scaling our innovative technology, we prove that a climate-friendly, circular, resilient and regenerative industry is possible. With our novel biomaterial, we can make a significant contribution to solving plastic pollution. We are convinced that UB FIGG and SWEN’s Blue Ocean fund are a great addition to our shareholders as they have relevant knowledge in our industry. The fact that both our investors and the banks fully support our mission was a decisive criterion for us."

A local banking syndicate consisting of GLS Bank, Hamburg, and Hamburger Sparkasse also participated in the financing round, as well as the company's three existing investors, green-tech investor Planet A Ventures, seed investor High-Tech Gründerfonds (HTGF), and deep tech investor b.value.

Sakari Saarela, Partner at UB FIGG: “traceless’ approach to use widely available agricultural side streams to replace fossil-based plastic and the financial opportunity their solution proposes convinced us both economically and ecologically. The traceless team has achieved extremely strong results in terms of material performance, development times and commercialization of the new material. We are looking forward to accompanying Anne, Johanna and the team in the scale up of this innovative technology."

Plastics not only leave behind the visible traces of global plastic pollution, but also contribute significantly to the climate crisis through their resource-intensive production from fossil raw materials. As part of a sustainable circular economy, the bioeconomy offers a solution: traceless materials has developed a holistically sustainable material to tackle the plastic crises.

Johanna Baare, Co-Founder & COO:“Financing capital-intensive start-ups is still unfamiliar to many investors and banks. This makes it a special challenge for industrial manufacturing start-ups like us that are developing the innovative technologies of tomorrow. We are very pleased that with UB FIGG, SWEN CP, Planet A, HTGF, b.value our local bank consortium we have found partners who share our vision and have recognized and understood the challenges of financing our hardware scale-up. With their support, we are going to reach our ambitious goals to make our contribution to solve global plastic pollution!”

Olivier Raybaud, Managing Director of SWEN Capital Partners: “The Blue Ocean fund seeks to invest in startups bringing innovative solutions to address the 3 main threats to our ocean: overfishing, ocean pollution and climate change. As plastic pollution is one of the main pollutants threatening our ocean, we were seduced by traceless, a bio-based and biodegradable material that can replace plastics in products that easily end up in the environment, and hence in our ocean, such as single-use packaging as well as hidden plastics in adhesives and paper coatings. traceless is a compelling alternative to applications where reusable solutions are not sustainable and technical recycling is not feasible.”

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About Traceless

The bioeconomy start-up traceless materials GmbH was founded in 2020 by Dr. Anne Lamp and Johanna Baare in Hamburg. The mission: to contribute to a regenerative, climate-friendly economy and a future free of plastic pollution. With their innovative technology.

The company turns agricultural industry plant leftovers into natural biomaterials that are bio-based, home compostable, plastic-free and have a minimal ecological footprint. To realize the ecological potential, the technology is being scaled up from pilot scale to industrial scale.

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