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Biotech company receives investment

Source: Shellworks

Innovative biotech company, Shellworks has raised US$6.2 million from seed funding led by investors LocalGlobe. 

Shellworks is a biotech company that aims to rid of plastic packaging completed. Founded by university friends Insiya Jafferjee and Amir Afshar in 2019, they initially focused on using polymers derived from shellfish waste to create biodegradable packaging. They recently received a US$6.2 billion investment from LocalGlobe, who are investors in companies such as Graze, Trainline, Zoopla and Citymapper.

In 2020, they began using vegan microbially-derived material to create a petroleum free, sustainable packaging that did not compromise on aesthetics, quality or cost. The current focus of the company is in the beauty and personal care industry – which, to me, seems a well thought choice considering a lot of recent focus has been placed upon the food industry. Whilst food products still use a lot of single use packaging, there has been a significant effort to reduce that. Co-foudner and CEO Insiya Jafferjee siad that: “the beauty industry creates 120 billion units of plastic packaging annually and were committed to providing a scalable solution to tackle this”. 

Source: Shellworks

The company are said to be using the $US6.2 million investment to double their workforce while also investing into science and tech innovation whilst improving operational services. With the vision to completely break the usage of petroleum based plastics it is the brand partnerships that will lead to complete success. Investing in something that is not particularly present within the current market is something that I often strive to do. Whether that be investing in real estate in emerging regions or funding the reduction of poverty through curing blindness, an investment and a forward leaning outlook is important.

Having a brand choose Shellworks as their source of packaging will not only create a less harmful product, it will also interest consumers who, more recently, actively search for innovative and sustainable vegan products.

Shellworks is a relatively young company, ran by relatively young people, whilst many would be scarce of this, I view it as a perfect opportunity. Fresh new minds and forward thinking ideas are what keeps the world moving. Sustainability and innovation is what has consistently powered my endeavours and I have always encouraged others to do the same.

The company produces four different types of sustainable packaging that uses a variety of biodegradable materials. Their goal is to branch out to brands who are searching for ways to become eco-friendly and are conscious about the packaging they use. The method of up-cycling has become a lot more prominent recently, especially with a new wave from a generation that is searching for a way to preserve the planet.

Read more to see more of my opinion and stories about entrepreneurship and biotechnology!

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Tej Kohli

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