Founder: Paul Riley (CEO)
Launched: 2021
Headquarters: Jerrabomberra, Australia
Funding: $107 million
Valuation: N/A
Key Technologies: Artificial intelligence
Industry: Materials
Previous appearances on Disruptor 50 list: 0
About a decade ago, researchers in Japan discovered a bacterium growing in a landfill in the city of Sakai that was able to ingest a particular kind of plastic. The bacterium started by producing an enzyme to break the polymer chain comprising the material into pieces.
At the time, the discovery was a curiosity, but news outlets noted that the "polymer chomper" might one day be engineered and produced at scale to tackle one of the world's sticky problems: plastic, which is made from fossil fuels, and is very difficult to recycle.
That day is now. Founded by venture capitalist Paul Riley in 2021 in Jerrabomberra, Australia, Samsara Eco uses AI-designed enzymes to break down hard-to-recycle plastics and textiles back to near original quality nylon and polyester, which are then recycled into new products. The company's aim is to create a circular economy for the billions of tons of plastics that exist in the environment, with 460 million more metric tons produced each year.
Back in 2021, Riley had been researching ways to reduce fossil fuel dependence and carbon in the atmosphere, when he came upon the Japanese research. He discovered that PhD students at the Jackson Lab at Australian National University were replicating the enzyme to "snip" various plastics into smaller polymer chains.
"The enzyme is like a little Pac-man," Riley told one interviewer. "But it's only snipping the polymer chain and not eating it. You're using waste to displace fossil fuels in the supply chain."
Other companies based on the research have entered the market, including London-based Epoch Biodesign and the French company Carbios.
Samsara Eco's small team, with fewer than 100 employees, has raised $107 million in an A round from investors including Temasek, Main Sequence and Wollemi. It has inked a deal with Lululemon, which has been shifting toward recycled and bio-based alternatives for its athletic wear, to source 20% of the company's fabric with the recycled material by 2030. Samsara is also working on a deal with The Lycra Co.
Samsara Eco is already operating a facility in Australia, to recycle the notoriously tough "nylon 6,6," widely used in athletic wear and cars. The company said it plans to open a circular nylon plant in Asia in 2028, with more to follow.
Sign up for our weekly, original newsletter that goes beyond the annual Disruptor 50 list, offering a closer look at the most promising venture-backed companies.
