San Francisco Bay Area-based Carbonwave announced today that it has raised $5 million in a funding round to further its mission of creating advanced biomaterials from seaweed. The round was led by Katapult Ocean, Viridios Capital, and Mirova.

Founded in January 2020 by Geoff Chapin, Carbonwave is the world's leading developer of ultra-regenerative, plant-based biomaterials from seaweed. The company transforms Sargassum seaweed, a resource long considered waste and that doesn’t need land or other typical aids to grow, into biomaterials that replace derivatives from oil and other harmful industry inputs.

Carbonwave's biomaterials are focused on collecting, processing, and growing seaweed profitably at scale. The company is marketing seaweed extracts to the agricultural industry as organic fertilizers and biostimulants; plant-based (vegan) leathers for fashion and interiors; and broad-spectrum emulsifiers with a wide range of applications across cosmetics and skin-care products.

"We're thrilled to have the support of Katapult Ocean, Viridios Capital, and Mirova as we continue to build the next-generation economies that will heal the planet through materials that are regeneratively sourced from our oceans," said Geoff Chapin, Founder of Carbonwave.

With the funding, Carbonwave plans to expand its seaweed collection, processing, and cultivation operations, as well as accelerate its research and development efforts to create new, innovative biomaterials.