Latest news with #BenjaminDroguet
Yahoo
29-05-2025
- Business
- Yahoo
Bio-Inspired Sparxell Ready to Glitter Bomb the Market
If all that glitters cannot be gold, must it be plastic? Sparxell thinks not. Now, a grant from the European Commission will help the bio-inspired startup find out. The Cambridge spin-out secured roughly a $2.15 million grant (1.9 million euros) from the European Innovation Council (EIC) as the sustainable colorant technologist works to overcome the 'critical technical barriers' with scaling production. More from Sourcing Journal Material World: Celebrate Biological Diversity Day With Carp Couture Chemical Textile Recycler Eeden Closes $20M Funding Round Material World: Still Burning Bras? You Can Bury Balena's The funding—awarded to 'disruptive innovations addressing global challenges,' per Horizon Europe—adds to Sparxell's previous investments and will help secure the startup's foothold in the $48 billion global colorant market. According to Precedence Research, the whitespace in the market sits around a 'healthy compound annual growth rate of up to 12.22 percent. The timing's right, too, as Sparxell reported 'This European Innovation Council funding is transformative for Sparxell, allowing us to accelerate our manufacturing scale-up and overcome key technical challenges much earlier in our development pathway,' Benjamin Droguet, founder and CEO of Sparxell, said. 'With our plant-based technology, we're offering industries a fundamentally different approach to color that works with nature rather than against it while meeting the highest performance standards.' Sparxell was founded in 2022 after scientists discovered a way to replicate vibrant hues found in nature using plant-based cellulose—a renewable, biodegradable resource extracted from waste streams. Sparxell's pigments use the same material that plants and animals use, the company said, to produce its fade-resistant colorants. Thus, its products are toxin-free pigments that allegedly last longer than the incumbent options on the market. Since 'spinning out' in 2023, Sparxell said it has commercially validated 25 fully-funded pilot projects. Since joining LVMH's La Maison des Startups accelerator program last September, Sparxell said it's befriended the luxury market, connecting with a handful of the house's heritage brands, like Loewe and Givenchy. Previously, the color platform technology company was acknowledged by the Biomimicry Institute's Ray of Hope Prize back in November 2023 (with $100,000) before taking home the $250,000 Sustainable Collaborative Prize from Morgan Stanley that December. Last month, Sparxell was named 'Best Sustainability Venture' by the Falling Walls Foundation. Last week in Paris, the eco tech developer took home two more awards from the ChangeNow Summit (including the Coups de Cœur jury-decreed honor) at its annual ESG showcase. This year's summit had 15 major partners (like Kering and Moët Hennessy) and 12 ecosystem partners (like B Lab and Clean Tech Open). In addition to LVMH's La Maison des Startups, Sparxell is also part of the Respond Accelerator by the BMW Foundation Herbert Quandt, the automotive group's independent corporate foundation that was named for the Nazi-affiliated industrialist for reportedly rescuing the car czar from bankruptcy (and/or Daimler-Benz) back in 1959. Sparxell joined the six-month program's fifth cohort, last April. In operation with the European startup hub UnternehmerTUM, the program has, since launching in 2020, supported over 50 startups solving for net-zero. Currently, Sparxell said, the team is focused on fundraising to accelerate market adoption across various industrial verticals. Sign in to access your portfolio
Fashion Network
22-05-2025
- Business
- Fashion Network
Sparxell plant-based colourant specialist gets €1.9m European innovation grant
LVMH -backed plant-based colourant technology pioneer Sparxell has secured a €1.9 million grant from the European Innovation Council (EIC) to double product development. The Cambridge-based company, which aims to accelerate market adoption of its sustainable colourant technology across fashion and cosmetics, said the new funding 'position[s] the company to overcome critical technical barriers in scaling its world-first, natural colourants'. The 'prestigious funding recognises Sparxell's breakthrough technology as part of the Council's mission to identify, develop, and scale up disruptive innovations that address global challenges' while 'positioning the company to capture a significant share of the growing $48 billion colourants market', it added. Sparxell's biodegradable pigments claim to deliver 'stunning colourant results that outperform synthetic alternatives', without the use of fossil-based chemicals. And since spinning out of the University of Cambridge in 2023, it has gained 'rapid' commercial validation through over 25 fully-funded pilot projects with global brands across diverse industrial sectors, it says. With the company approaching its first million in sales, the EIC grant will 'prime Sparxell for exponential growth in the booming colourants sector', allowing it to scale to tonne-level production in 2025, 'in preparation for its first commercial launch with leading brands and manufacturers'. Since joining LVMH's La Maison des Startups accelerator programme, Sparxell said it has quickly established itself in the luxury market, connecting with the luxury goods group's heritage brands including Louis Vuitton, Christian Dior, Givenchy and Loewe. Dr Benjamin Droguet, Sparxell founder and CEO, said: "This [EIC] funding is transformative for Sparxell, allowing us to accelerate our manufacturing scale-up and overcome key technical challenges much earlier in our development pathway. 'With our plant-based technology, we're offering industries a fundamentally different approach to colour that works with nature rather than against it while meeting the highest performance standards.'
Fashion Network
22-05-2025
- Business
- Fashion Network
Sparxell plant-based colourant specialist gets €1.9m European innovation grant
LVMH -backed plant-based colourant technology pioneer Sparxell has secured a €1.9 million grant from the European Innovation Council (EIC) to double product development. The Cambridge-based company, which aims to accelerate market adoption of its sustainable colourant technology across fashion and cosmetics, said the new funding 'position[s] the company to overcome critical technical barriers in scaling its world-first, natural colourants'. The 'prestigious funding recognises Sparxell's breakthrough technology as part of the Council's mission to identify, develop, and scale up disruptive innovations that address global challenges' while 'positioning the company to capture a significant share of the growing $48 billion colourants market', it added. Sparxell's biodegradable pigments claim to deliver 'stunning colourant results that outperform synthetic alternatives', without the use of fossil-based chemicals. And since spinning out of the University of Cambridge in 2023, it has gained 'rapid' commercial validation through over 25 fully-funded pilot projects with global brands across diverse industrial sectors, it says. With the company approaching its first million in sales, the EIC grant will 'prime Sparxell for exponential growth in the booming colourants sector', allowing it to scale to tonne-level production in 2025, 'in preparation for its first commercial launch with leading brands and manufacturers'. Since joining LVMH's La Maison des Startups accelerator programme, Sparxell said it has quickly established itself in the luxury market, connecting with the luxury goods group's heritage brands including Louis Vuitton, Christian Dior, Givenchy and Loewe. Dr Benjamin Droguet, Sparxell founder and CEO, said: "This [EIC] funding is transformative for Sparxell, allowing us to accelerate our manufacturing scale-up and overcome key technical challenges much earlier in our development pathway. 'With our plant-based technology, we're offering industries a fundamentally different approach to colour that works with nature rather than against it while meeting the highest performance standards.'
Fashion Network
29-04-2025
- Business
- Fashion Network
Colourant specialist Sparxell gets key fashion innovation recognition
LVMH -backed eco tech developer start-up Sparxell has received two prestige international sustainability awards. The UK company has been named among the prestigious 'ChangeNow Change 100' winners for 2025, joining 'a definitive list of the top sustainability start-ups to watch this year'. And during the recent ChangeNow summit in Paris, the company was additionally awarded the jury's 'Coups de Cœur' recognition in the fashion category, highlighting its game-changing potential to transform the fashion industry'. Sparxell, a University of Cambridge spin-out and 'developer of the world's first high-performance, plant-based colourant technology', joins an elite group 'demonstrating exceptional impact potential, scalability, and business viability while creatively rethinking industry standards'. It said this latest achievement reinforces its 'growing momentum as it transforms the $48 billion global colourants market with its revolutionary 100% plant-based, high-performance biodegradable colour platform'. Dr Benjamin Droguet, founder and CEO of Sparxell said the two recognitions 'validate our mission to revolutionise how industries approach colour. 'This comes at a pivotal moment as we scale our technology to transform how the entire fashion industry approaches colour. Through this innovation, we're not just creating sustainable products - we're helping shape a world where beautiful, high-performance materials work in harmony with nature rather than against it.' This recognition comes as Sparxell recently secured a €1.9 million grant from the European Innovation Council (EIC), adding to investments from the L'Oréal -backed Circular Innovation Fund and support from Innovate UK. It has also established partnerships with luxury brands under LVMH's La Maison des Startups.
Fashion Network
28-04-2025
- Business
- Fashion Network
Colourant specialist Sparxell gets key fashion innovation recognition
LVMH-backed eco tech developer start-up Sparxell has received two prestige international sustainability awards. The UK company has been named among the prestigious 'ChangeNow Change 100' winners for 2025, joining 'a definitive list of the top sustainability start-ups to watch this year'. And during the recent ChangeNow summit in Paris, the company was additionally awarded the jury's 'Coups de Cœur' recognition in the fashion category, highlighting its game-changing potential to transform the fashion industry'. Sparxell, a University of Cambridge spin-out and 'developer of the world's first high-performance, plant-based colourant technology', joins an elite group 'demonstrating exceptional impact potential, scalability, and business viability while creatively rethinking industry standards'. It said this latest achievement reinforces its 'growing momentum as it transforms the $48 billion global colourants market with its revolutionary 100% plant-based, high-performance biodegradable colour platform'. Dr Benjamin Droguet, founder and CEO of Sparxell said the two recognitions 'validate our mission to revolutionise how industries approach colour. 'This comes at a pivotal moment as we scale our technology to transform how the entire fashion industry approaches colour. Through this innovation, we're not just creating sustainable products - we're helping shape a world where beautiful, high-performance materials work in harmony with nature rather than against it.' This recognition comes as Sparxell recently secured a €1.9 million grant from the European Innovation Council (EIC), adding to investments from the L'Oréal-backed Circular Innovation Fund and support from Innovate UK. It has also established partnerships with luxury brands under LVMH's La Maison des Startups.
