Uluu raises $10.5 million in funding

Australian seaweed bioplastics startup Uluu has secured AU$16 million (US$10.5 million) in Series A funding to accelerate its mission of replacing fossil-fuel-based plastics with sustainable alternatives. Founded in 2021 by co-CEOs Dr. Julia Reisser and Michael Kingsbury, the Perth-based company uses fermentation technology to transform farmed seaweed into polyhydroxyalkanoates (PHAs)—biodegradable polymers that perform like conventional plastics.

Funding Details

The Series A round was led by German growth investor Burda Principal Investments, with participation from Main Sequence, Novel Investments, Startmate, Fairground, and Trinity Ventures. The capital will fund construction of a 10-tonne-per-year demonstration plant in Western Australia, scaling up from Uluu’s current 100-kilogram pilot facility. This expansion represents a critical step toward commercial-scale production, with the company planning facilities capable of producing thousands of tonnes annually.

Strategic Use

Uluu’s seaweed-based materials are home compostable, marine biodegradable, and recyclable, eliminating microplastic pollution while maintaining the strength, flexibility, and waterproofness of conventional plastics. The materials integrate seamlessly with existing plastic manufacturing equipment, reducing adoption barriers across packaging, automotive, electronics, and textile industries. At commercial scale, Uluu projects its materials will avoid 5 kilograms of CO₂ equivalent per kilogram produced. Additionally, the company’s seaweed farms are carbon negative and help clean ocean pollutants, while leftover biomass becomes high-protein aquaculture feed. This funding positions Uluu to address growing regulatory pressure and corporate net-zero commitments, potentially disrupting traditional plastic markets and accelerating bioplastics sector adoption globally.

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