EQUO raises $1.3 million in seed funding

April 20, 2022 | 15:51
EQUO has raised $1.3 million in seed funding. Leading the seed round was NextGenVentures with participation from Techstars, East Ventures, and supported seed investors such as Luke Vigeant, Jeff Hohner, Jack Tai, Mark Groves, and Dimple Mukherjee.
EQUO raises $1.3 million in seed funding
EQUO raises $1.3 million in seed funding

Founded in 2020 by solo female founder Marina Tran-Vu, EQUO provides fully plastic-free and compostable solutions made of materials like coffee, coconut, and sugarcane to replace single-use plastics. The company aims to disrupt the market by offering solutions that are easy and convenient to use, without asking consumers to change their lifestyles or behaviour.

EQUO differentiates itself through bright, exciting, and distinct branding that captures the consumer’s attention in categories that were traditionally ignored; and focuses on the education of new sustainable materials available on the market.

EQUO intends to use the funds to further expand its product line, develop its technical capabilities to quickly scale the business, and increase the brand’s awareness and exposure in the US, Canada, Vietnam, and Singapore, while expanding to recently entered markets like Europe, Japan, and Australia.

Jimmy Quach, CEO of NextGen Ventures noted, “EQUO is a purpose-driven company with a clear mission to rid the world of single-use plastics and to give consumers options that better protect the environment. NextGen is pleased to support Marina and her team in their effort to drive her sustainability mission with reach and scale.”

Willson Cuaca, co-founder and managing partner of East Ventures said, “EQUO’s mission aligns with East Ventures’ core belief in providing solutions that bring us closer to a sustainable future. Countless single-use plastics are used in our daily lives, which means there’s a big market and potential that lies ahead for EQUO to solve and improve upon today’s current products. We have a strong belief in EQUO, and are looking forward to seeing the further positive impact that Marina and team will have on the world.”

A recent report by the Center for International Environmental Law indicated that the production and disposal of single-use plastics will cause the equivalent emissions of 295 coal plants by 2030.

“Our vision is to replace all single-use plastic on the planet.’ said Tran-Vu. “We are excited about the new products we are going to be delivering to the market this year to show the world all the things without single-use plastic and (in some cases) paper.”

EQUO also carries the mission to bring Vietnamese and Asian products to the world, proving that Vietnam can become a global leader in innovation and sustainability, and displaying the local talent in the country, exemplified by the all-Vietnamese team.

By EQUO

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