A Western Australian start-up co-founded by a marine scientist and a former M&A lawyer is now worth over $100 million, after raising capital to scale its ambitious plan to replace plastic with seaweed.
Uluu’s $16 million Series A funding will be applyd to build a new demonstration plant for its plastic substitute, enabling it to lift production to 10 tonnes a year, up from its current 100 kilograms a year pilot facility, and deliver commercial volumes.
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