National I-Corps alum Cruz Foam Secures $18M in Series A Funding

Cruz Foam, a circular materials company providing bio-based, regenerative replacements for single-use plastic in the multi-billion dollar packaging industry, today announced an $18M Series A funding round led by Helena. The round was joined by One Small Planet, Regeneration.VC, At One Ventures, and SoundWaves.

Cruz Foam is scaling the production of circular materials with existing industries catalyzing the transition of global supply chains away from harmful single-use materials for protective packaging and other uses. The first line of products targets plastic foam. The company was founded in 2017 by John Felts and Marco Rolandi with a mission to replace single-use, petroleum-based plastics starting with replacements for EPS and EPE and moving into new spaces such as cold chain and primary packaging for consumer packaged goods.

"Petroleum-based products, specifically those designed for single-use, pose one of the greatest threats to our planet," states Henry Elkus, founder of Helena. "Through our work and investment with partners like Cruz Foam we're aiming to tackle the issue in a wholly innovative way to sustain meaningful change in the packaging space."

https://www.prnewswire.com/news-releases/cruz-foam-secures-18m-in-series-a-funding-led-by-helena-301661781.html