Samsara Eco raises $54M AUD for its ‘infinite plastic recycling’ tech
Samsara Eco, an Australian startup that uses enzyme-based technology to break down plastic into its core molecules, announced today it has raised $54 million AUD (about $34.7 million USD) in Series A funding. The company is planning to build its first plastic recycling facility in Melbourne later this year, with the target of full-scale production by 2023.
Samsara’s new funding will be used for expansion, building its library of plastic-eating enzymes and funding its first commercial facility, which it says will be able to infinitely recycle 20,000 tons of plastic starting in 2024. It will also grow its engineering team and expand operations into Europe and North America.