Cruz Foam, a Santa Cruz CA-based provider of bio-based, regenerative replacements for the packaging industry, raised $18M in Series A funding.
The round was led by Helena, with participation from One Small Planet, Regeneration.VC, At One Ventures, and SoundWaves.
The company intends to use the funds to accelerate and scale the commercialization of its circular materials to respond to the market demand.
Led by CEO John Felts, Cruz Foam is a circular materials company that produces regenerative, earth-digestible protective packaging foam and other solutions that offer a sustainable alternative to petroleum-based products. The company’s products are circular in nature, using biopolymers found in nature to create a compostable material using the existing supply chain and at a similar cost. Cruz Foam currently works with consumer-packaged goods, electronics, appliance, and durable companies.
The company also announced its conversion to a Benefit Corporation, formalizing its longstanding commitment to creating a more sustainable planet. Cruz Foam will report annually on its progress in achieving its public benefit.
