# Eranova

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/eranova

- Industry: Biopolymers
- Headquarters: France
- Website: www.eranovabioplastics.com
- Total disclosed funding: $2.5M
- Latest round: Series A (Nov 23, 2020)
- Investors on record: 3

## About

Founded in 2016 by Philippe Lavoisier (Co-CEO) and Philippe Michon (Co-CEO), and based in France, Eranova is a biotechnology company that produces biodegradable plastics from algae. In October 2020, Eranova raised venture debt funding from investors CIC Group, Groupe BPCE, and HSBC Group.

The firm employs its patented technology that converts green macroalgae, a pollutant found on beaches, into bio-based, recyclable, compostable resins. Eranova transforms green algae into four types of bio-based, low-carbon resins, each suited for different plastic manufacturing and packaging processes: blowing, injection, and thermoforming. These resins include durable plastic, natural plastic, compostable plastic, and biodegradable plastic with various applications such as meal trays and trash bags to compostable fruit and vegetable bags and durable reusable packaging.

## Funding rounds

- Series A, Nov 23, 2020, $2.5M — Indorama Corporation, Euro Capital, Capelan

## Investors

- Indorama Corporation — Series A
- Euro Capital (https://capitalatlas.ai/funds/euro-capital) — Series A
- Capelan — Series A