Perth-based sustainable materials startup Uluu has raised $16 million in a Series A round to build a facility that can turn seaweed into a natural alternative to plastic on a large scale.
The funding round was led by Burda Principal Investments from Germany, with participation from Main Sequence, Novel Investments, Startmate, and several impact investors and family offices, including Fairground and Trinity Ventures.
Main Sequence had also led Uluu’s earlier $8 million funding round in 2022, which included well-known investors like supermodel Karlie Kloss and musician Kevin Parker (Tame Impala).
Founded in 2021 by Dr. Julia Reisser and Michael Kingsbury, Uluu uses an advanced fermentation process where microbes feed on seaweed—similar to how beer is brewed—to create natural materials called polyhydroxyalkanoates (PHAs), which can replace plastic.
Uluu collects these PHAs and turns them into small pellets that can be used by packaging and fabric makers to create sustainable products.
“Uluu can be used to replace most, if not all, plastics, including rigid products, films, foams, textiles, 3D filaments, rubber-like materials and more,” Reisser said.
“Our materials are durable yet biodegradable, and work in existing plastic manufacturing equipment.”
Uluu has been growing steadily, increasing its team from 13 to 23 people this year.
The company already runs a small pilot facility that can make 100 kg of its seaweed-based material. So far, it has supplied eco-friendly plastic alternatives to brands like Quiksilver and Papinelle — including surfboard wax scrapers and buttons for luxury pyjamas.
With the new funding, the founders plan to build a larger commercial facility that can produce 10 tonnes of PHA material every year, allowing them to reach more brands and expand their market.
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