Funding round
PACT Biomaterials Seed
PACT Biomaterials, which works in sustainable biomaterials manufacturing in Cambridge, raised $12M in a Seed round announced on 27 Sep 2024, led by Hoxton Ventures. 4 firms took part. It is PACT Biomaterials' first venture round on record.
$12M
Amount raised
10,700,000 EUR converted
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
PACT Biomaterials did not disclose a valuation in this round. It is PACT Biomaterials' first venture round on record, 4 years after it was founded in 2020. It is 37% of the $32M PACT Biomaterials has raised in the venture rounds on record. PACT Biomaterials raised again 13 months later: a Series A round of $20M in Oct 2025.
PACT Biomaterials' funding rounds
PACT Biomaterials has 2 venture rounds on record. This one is highlighted.
- Seed this round 27 Sep 2024, led by Hoxton Ventures $12M
- Series A 30 Oct 2025, led by Forbion $20M
Investors
Who put money in
Hoxton Ventures led the round with 3 other firms.
Lead investor
- Hoxton Ventures backs 50 venture-backed companies new investor
Also in the round
- ReGen Ventures new investor
- Celsius Industries new investor
- backs 12 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development.
- Product development
Comparable rounds
How it compares
23 Seed rounds in Plastics Products within a year either side disclosed an amount; the median was $3.7M, and this round was 3.2 times the median. The closest in time, other companies' Seed rounds in Plastics Products:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Plastics Products | 1 Sep 2024 | $3.0M | not disclosed | Avaana Capital |
| Plastics Products | 25 Sep 2024 | $2.5M | not disclosed | High-Tech Gründerfonds |
| Plastics Products | 8 Aug 2024 | $5.0M | not disclosed | Wavemaker Partners |
| Plastics Products | 2 Jul 2024 | $5.6M | not disclosed | Green Circle Foodtech Ventures and Fall Line Capital |
| Plastics Products | 25 Jul 2024 | $4.5M | not disclosed | Collaborative Fund |
| Plastics Products | 16 Jul 2024 | $2.2M | not disclosed | not named |
| Plastics Products | 8 May 2024 | $3.6M | not disclosed | Closed Loop Partners |
| Plastics Products | 1 Jan 2025 | $2.3M | not disclosed | Rainmatter |
Sources
Where this comes from
Reported by 1 source. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did PACT Biomaterials raise in its Seed round?
PACT Biomaterials raised $12M in its Seed round, announced in Sep 2024.
Who led PACT Biomaterials' Seed round?
Hoxton Ventures led it, with ReGen Ventures, Celsius Industries and Polytechnique Ventures.
What was PACT Biomaterials' valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Plastics Products?
23 Seed rounds in Plastics Products within a year either side disclosed an amount; the median was $3.7M, and this round was 3.2 times the median.
Did PACT Biomaterials raise again after this round?
Yes: a Series A round in Oct 2025 of $20M.