Close of Funding Round – A$1.3M

Ben Courtney
September 27 2021

With the close of our initial funding round, we are ecstatic to secure A$1.3M from several prominent investors – namely deep-tech fund Main Sequence, Alberts Impact Ventures and The Eights.

The funds will sustain R&D of ULUU’s ocean material; currently, with research partners at the University of Western Australia and CSIRO, we are completing optimisation work ahead of next year’s pilot, where we will bring trial products ‘made with ULUU’ to market in partnership with major brands.

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We received warm words from Emily Albert, Head of Impact at Alberts Impact Ventures, and Stella Xu, senior associate at Main Sequence following their support.

“We’re thrilled to partner with ULUU. We look to work with pioneering founders with a pioneering vision, and that is exactly what we’ve found with ULUU. An amazing team with a vision to have a significant impact on multiple issues facing our planet. ULUU will not only tackle plastic pollution and decouple our polymer economy from fossil fuels but, in sequestering carbon, has the potential to benefit the world.”

Emily Albert, Head of Impact at Alberts Impact Ventures

“Following the close of our second fund earlier this year, we have been searching for solutions to tackle our broader challenge to decarbonise the planet. ULUU is a great example of companies doing just that. It is solving two big problems – plastic pollution and climate change – through deep tech.”

Stella Xu, senior associate at Main Sequence

Our co-founder Julia Reisser says,

“We’re delighted to have secured this funding from such a fantastic group of investors. Currently, we’re working hard towards optimising ULUU’s production process and establishing exciting partnerships with fashion brands, to launch our first label for ULUU towards late 2022 – watch this space!”

Julia Reisser, co-founder of ULUU

Thanks so much to our amazing investors! Linked is our full Media Statement and its coverage in Australian Financial Review.

If you would like to keep up-to-date with our progress, see our News tab and follow our social medias linked below.

Co-founders Michael and Julia at Cottesloe Beach.