Phantm Raises $2M to Reduce Plastic Waste

SEATTLE (Scrap Monster): Phantm, a new plastic reduction platform committed to addressing one of the world’s largest waste issues and accelerating the adoption of natural materials, has successfully secured $2 million in an oversubscribed seed round, led by Blacknova VC, Salus Ventures and CoVentures VC.

With Elliot Costello at the helm, Phantm is already working with a range of leading international and Australian businesses, including MECCA, Starbucks Australia and Norwood Industries.

Phantm’s primary objective is to provide an independent pathway for businesses seeking to reduce their plastic footprint through making informed packaging and product decisions.

By providing access to industry-leading plastic and natural materials experts, Phantm helps businesses meet their ESG goals, and move towards a positive impact on people and planet. Its robust methodology, known as A-R-T (Assess, Reduce, Transition), assists firms in reducing costs and tracking their progress towards becoming plastic-free.

Elliot Costello, cofounder and CEO of Phantm, commented, “We’re in the midst of a plastic crisis, and recycling alone cannot solve it. The market has been demanding alternatives, and it’s time to embrace the range of different materials that can replace petrochemical plastics so that we can finally turn virgin plastic off at the tap.”

“The enthusiasm from investors across the country is really exciting and shows the dedication to deplastifying Australian businesses.”

Edward Whitehead, Phantm’s head of strategy and global plastics expert, said, “We bring the expertise that helps firms pull back the layers, ensuring they’re taking the right steps towards positive change. Businesses can’t just leapfrog into perfection, and it’s important they work transparently to improve, be better and do better.”

 Courtesy: www.foodmag.com.au