Australian recycler Samsara Eco has raised about US$65 million in its latest funding round. Investors include Singapore state investment company Temasek, Hitachi’s venture capital arm, and Lululemon, which earlier this year started selling a jacket made from Samsara Eco’s recycled polyester. The latest round will be used by Samsara Eco to build commercial facilities in Southeast Asia, including one nylon facility and one polyester facility to recycle plastic waste from nearby garment factories.
Samsara Eco, founded in 2020, has developed plastic-eating enzymes intending to recycle materials otherwise destined for landfills. The company uses artificial intelligence to create new enzymes that can break down commonly used types of plastics, such as textiles and packaging, into their original building blocks. These blocks can then be used to make new plastics.
