Bloom Biorenewables, a previous winner of the Amcor Lift-Off program, has successfully closed a Series A funding round exceeding US$14 million. It is currently collaborating with Amcor on R&D for sustainable plastics.
The funding round was led by Anaïs Ventures and Valquest Partners, with participation from additional venture capital firms and strategic investors, including Amcor.
This significant investment will support Bloom in scaling its operations, enhancing its research and development capabilities, and expanding its market reach. Bloom, a spin-off from the Swiss Federal Technology Institute of Lausanne, has developed breakthrough technology to convert plant waste into high-value chemical products, with applications including sustainable packaging. Its technology enables the creation of high-performance, low-CO2 footprint materials, contributing to the transition toward a circular economy.
Amcor and Bloom are currently collaborating on R&D projects aimed at developing more sustainable plastics. These efforts include work with a resin-manufacturing partner to integrate Bloom’s novel bio-based molecule into polyethylene terephthalate (PET), improving the sustainability and performance of packaging materials.
Bloom’s journey with Amcor began in 2022, when the company won the Amcor Lift-Off program, receiving $250,000 in funding and access to Amcor’s advanced R&D resources. Commenting on the partnership, Frank Lehmann, vice president of Corporate Venturing and Open Innovation at Amcor, said: “This collaboration highlights Amcor’s dedication to fostering innovation and supporting startups that are driving the future of sustainable packaging. By leveraging our combined expertise and resources, we are hopeful to make significant progress towards a circular economy and a more sustainable world.”
In further support of innovation, Amcor has also announced an extension to the application period for a new Lift-Off challenge – Amcor Lift-Off Sprints. This initiative invites applications from companies developing innovative compostable or recyclable barrier coatings for paper and other compostable substrates.
The Lift-Off Sprints challenge is designed to identify and collaborate with start-ups addressing key R&D challenges. Selected applicants may enter a joint development agreement with Amcor’s R&D team and receive up to $500,000 in funding. Technologies should improve the functionality and sustainability of packaging, reinforcing Amcor’s commitment to circular packaging solutions.
Applications must be submitted via the Amcor Lift-Off website by 13 April 2025, with shortlisted applicants announced on 25 April, and Final Pitch Day scheduled for 12 May 2025.
“As a global packaging leader, we are committed to continually advancing circularity through new, innovative and more sustainable packaging solutions,” said Lehmann. “This new challenge under the Lift-Off initiative is a testament to our dedication to fostering innovation and supporting the next generation of packaging technologies.”
For further details and to apply, visit: amcor.com/ventures/lift-off.
