SAN FRANCISCO–(BUSINESS WIRE)–Today, Polycarbin, Inc. announced the closing of a $2M seed round with funding from Ringbolt Capital, VoLo Earth Ventures, along with several notable angel investors to scale the only Closed-Loop solution for single-use plastics in the life science and healthcare sector.
In the midst of a pandemic that has destabilized the supply chains that provide essential plastic consumables to laboratories, Polycarbin has brought to market the only line of sustainable, circular economy laboratory products. Polycarbin is reducing the carbon footprint of innovation by turning the scientific waste of today into the laboratory products of tomorrow.
After witnessing 8 million tons of plastic waste generated during the pandemic, the industry is grappling with the consequences of the ‘single-use’ economy. Polycarbin’s mission is to reduce the carbon footprint of innovation while scaling a more sustainable and efficient supply chain to meet the needs of scientists and the low-carbon economy of the future.
As a recycler and lab product re-manufacturer, Polycarbin equips leading biotechnology, pharmaceutical, and diagnostic laboratories with a Closed-Loop platform for managing plastic disposal and green procurement, while quantifying their impact using Polycarbin’s proprietary chain of custody software.
“Polycarbin is the first real solution to address the impact that the life sciences and healthcare industry has on the global environment,” said Joe Vacca, Managing Partner of Ringbolt Capital. “We are proud to invest in a company that will forever change the way we look at the plastic waste produced by the innovation ecosystem.”
“VoLo Earth is proud to be a supporter,” Eric Riesenberg, Managing Partner, added. “I have personally dealt with the waste in the life sciences industry and, for many years, hoped for a solution like Polycarbin’s circular approach to plastic stewardship.”
Having developed the only line of circular economy lab products, Polycarbin is setting its sights on scaling production and plans to use its capital to meet the growing demand for single-use scientific plastics with a sustainable and affordable solution.
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