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Cruz Foam Closes Seed Round for Launching Biodegradable Packaging Products
Startup Sandbox graduate lands private financing and NSF grant to launch its compostable foam packaging alternatives
11 Mar 2020
Cruz Foam, a graduate of Startup Sandbox in Santa Cruz that creates biodegradable packaging, announced today that it has completed a $1.2 million seed round from private financiers and a grant from the National Science Foundation (NSF).
The company produces compostable foam packaging made of seafood industry waste material. Early adopters of their eco-friendly solutions include consumer-packaged goods, electronics, automotive and shipping companies. Cruz Foam products are available through existing supply chains at costs similar to traditional foam packaging that require several hundreds of years to break down in landfills.
The financing is being used by Cruz Foam to commercially deploy its patent-pending packaging solutions. The round is timely as new regulations in dozens of US cities are banning EPS and petroleum-based materials in food service, shipping and other industry sectors. As a result, companies must find cost-effective, scalable, and bio-friendly packaging solutions.
Cruz Foam recently moved from Startup Sandbox on Natural Bridges Drive to the Wrigley Building on Mission Street in Santa Cruz, which is part of the revitalization of the city’s Westside office and industrial parks.
For more details, see this article at Santa Cruz Tech Beat.
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