Its also worked with partners to develop market solutions using Samsara’s plastic-recycling tech. It will also grow its engineering team and expand operations into Europe and North America.ĬEO and founder Paul Riley said that since March, when Samsara’s previous round of funding was announced, it’s been focused on expanding its enzyme library, which is now capable of depolymerizing several different types of plastic. 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. The company’s enzyme-based technology breaks down plastics into their molecular building blocks to produce new plastic products - which can in turn be broken down again, creating what Samsara refers to as infinite plastic recycling. TechCrunch last covered the startup when it raised $6 million earlier this year. Samsara launched last year in partnership with the Australian National University. Existing investors like deep-tech fund Main Sequence, Woolworths Group’s W23 and Clean Energy Finance Corporation (CEFC) also participated.

Investors in the round include Breakthrough Victoria, Temasek, Assembly Climate Capital, DCVC and INP Capital. 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 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.

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