Granatus Ventures Invests in the Seed Round of Sparxell to Support Development of Sustainable Pigments
15 March 2024
Granatus Ventures invested in the seed round of Sparxell, a UK-based developer of high-performance, sustainable, plant-based pigments. Other investors in the round are The Circular Innovation Fund, of which L’Oréal Groupe is an anchor investor, SpaceX-backer Future Communities Capital, sustainability-focused investor PDS Ventures, impact investor Katapult, and biotech and consumer sectors investor Joyance Partners.
"As a University of Cambridge spin-out, we were delighted to connect with Granatus Ventures through the Cambridge ecosystem. Granatus shares our ambition to make a meaningful contribution to the sustainability of our planet and I look forward to working with the Granatus team as we scale our impact.” said Dr Benjamin Droguet, Sparxell Founder & CEO.
"Sparxell's innovative plant-based pigments offer a compelling solution to the environmental challenges posed by traditional chemical colorants. With their pioneering approach and potential for widespread adoption, we are excited to support Sparxell in its journey towards a more sustainable future. We believe the connection with the Armenian ecosystem will enhance the talent access and the growth potential of Sparxell” said Yervand Sarkisyan, the Co-founder and Partner at Granatus Ventures.
About Sparxell
Sparxell was founded in 2022 by Cambridge scientists, led by Dr Benjamin Droguet and Professor Silvia Vignolini, who discovered ways to replicate vibrant colours in nature using fully plant-based cellulose, a renewable, biodegradable resource that can be extracted from waste streams. Sparxell’s pigments use the same material that many plants and animals use to produce vivid, durable, and fade-resistant colourants. The products are toxin-free and fully biodegradable with a colour intensity that lasts longer than traditional colourants and pigments on the market.