London startup tackling UK's plastic problem raises £1.2m angel funding
Bioplastics firm Teysha Technologies has raised £1.2m investment supported by Angel Investment Network (AIN).
London-based Teysha has created a patented, renewable plastic substitute, using waste from landfill to creating polymers for many different applications.
The fundraise was carried out on the AIN platform, with the investment being used to deliver prototypes and secure contracts.
For each contract, Teysha conducts prototyping, aiming to ensure material needed for that application is suitable for the job. Teysha, which launched in 2017, owns two patents with further more in the pipeline.
According to Duncan Clark, director of operations at Teysha Technologies, said: “We are delighted with the interest we have received from AIN investors.
“Made from all-natural and inedible agricultural waste streams, Teysha’s second-generation bioplastic is the result of decades of R&D.
“One of the biggest challenges facing bioplastics, as this new industry evolves, concerns the fate of the products when their use has ended, our product tackles this by breaking down to its constituent earth-friendly organic building blocks.”
According to AIN’s Sam Louis, head of consultancy, who led the fundraise: “Teysha’s technology creates an incredible opportunity for how we produce materials.
“The investors on our platform were really drawn to its ability to answer the growing demand for sustainable plastics. It’s exactly the sort of company we love to be involved with and we have seen a rise in interest among investors for businesses of this type.”
Teysha is featured on the new SeedTribe website. SeedTribe, powered by AIN, is an online community connecting startups with ‘advice’ and investment.
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning London email for free.