Leading enzyme innovation business Evoralis is creating enzymes capable of dissolving even the most challenging blended and mixed fibers. Known for developing enzymes that break down plastic, Evoralis has raised £2.5 million in seed money. Their goal of revolutionizing the recycling of plastic and textiles has advanced significantly with the help of this money.
LIFTT S.p.A. led the capital round, with Backbone Ventures, Parkwalk Advisors, and Cambridge Enterprise Ventures contributing additional funds. A number of individual investors, Archipelago Ventures, and the Circular Plastics Accelerator were among the other contributors. Additionally, CPI gained shares in the business by converting its financing into stock.
Evoralis, an innovative microfluidic screening platform spin-off from the Hollfelder Lab at the University of Cambridge, finds enzymes that can degrade complex polymers. By accelerating the process of discovering new enzymes by 1,000 times over conventional techniques, this technology moves the textile and plastic industries closer to a sustainable, circular economy.
With their innovative enzyme technology, Evoralis hopes to address the issue of recycling textile blends and potentially recycle more than 80% of textiles, including those composed of blended fibers that contain plastic. This new strategy may open up a huge USD 560 billion opportunity for the sector.
