# Netspa

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

- Industry: Environmental Services
- Headquarters: Busan, South Korea
- Website: www.netspa.co.kr
- Total disclosed funding: $5M
- Latest round: Series A (Nov 17, 2021)
- Investors on record: 3

## About

Netspa is a South Korean company focused on developing innovative technologies for recycling marine waste into high-quality materials, contributing to sustainable resource management across various industries.Founded in 2020 and headquartered in Busan, South Korea, Netspa specializes in recycling ocean-derived materials, particularly into high-purity recycled nylon. The company, which has executed 5 deals, raised KRW 1 billion in venture funding from Hanwha Investment & Securities on July 1, 2023, marking its total amount raised at KRW 1 billion. Netspa has not reported any changes in its business strategy or structure since its inception.Netspa specializes in addressing marine waste through innovative technology aimed at recycling ocean-derived materials. The flagship product is high-purity recycled nylon (R-Nylon), derived from post-consumer waste, utilized across textiles, engineering, and industrial sectors. The products enable sustainable resource management, appealing to manufacturers seeking to integrate environmentally responsible practices into their operations. Netspa serves clients beyond South Korea, supporting global marine environmental sustainability.Netspa's revenue model is centered on B2B transactions, focusing on direct sales of recycled materials to manufacturers and industrial clients. Partnerships with stakeholders allow for bulk orders tailored to specific production needs, although specific pricing plans are undisclosed. The sustainable focus positions Netspa as a supplier in a market prioritizing environmental responsibility, potentially enhancing revenue through long-term contracts and collaborations.With the recent funding of KRW 1 billion raised in July 2023, Netspa plans to expand its operations and product lines. The company is in the design phase of new product offerings aimed at broader applications in the textile and industrial sectors, with plans to enter additional markets in Asia by the end of 2024. The funding will be utilized to enhance research and development capabilities, supporting the launch of these new products and facilitating expansion into targeted geographic regions.

## Funding rounds

- Series A, Nov 17, 2021, $2.5M — Magna Investment, TBT Partners, Impact Square
- Series A, Nov 17, 2021, $2.5M — Magna Investment, TBT Partners, Impact Square

## Investors

- Magna Investment (https://capitalatlas.ai/funds/magna-investment) — Series A
- TBT Partners (https://capitalatlas.ai/funds/tbt-partners) — Series A
- Impact Square (https://capitalatlas.ai/funds/impact-square) — Series A