LOLIWARE

The company's journey began when Chelsea "Sea" Briganti and Leigh Ann Tucker, graduates of the Parsons School of Design, created an edible, biodegradable cup for a Jell-O competition in 2010. Briganti's upbringing in Hawaii and witnessing firsthand the impact of plastic pollution on the oceans fueled the venture's mission. After winning the competition, they founded LOLIWARE in 2015. An early version of the company gained traction with a successful Kickstarter campaign in 2011 and attention from major brands like Pernod Ricard and AOL. A significant milestone occurred in October 2015 with an appearance on "Shark Tank," where they secured a $600,000 investment from Mark Cuban and Barbara Corcoran for a 25% equity stake. Post-"Shark Tank," the company pivoted from its original edible cups to focus on straws and, more strategically, the underlying material science. Co-founder Leigh Ann Tucker has since left the company, with Sea Briganti continuing as CEO.

LOLIWARE's core offering is its proprietary SEA Technology®, a category of seaweed-based resins. These resins are engineered to mimic the properties of traditional plastics and are compatible with existing injection-molding manufacturing equipment, facilitating easier adoption by manufacturers. The material, available in pellet form, is developed from ocean-farmed seaweed, a regenerative resource that captures carbon and does not require land, fertilizer, or fresh water to grow. The resulting products are designed to be compostable, breaking down as quickly as food waste, or even edible. The company is also developing a seaweed materials database using AI and machine learning to formulate new items like utensils, cups, and take-out containers. Its commercially available Blue Carbon Straw is verified as plastic-free and is produced in partnership with manufacturer Sinclair and Rush.

The company has successfully raised significant capital to fund its research and expansion. Total funding has reached at least $15.4 million through several rounds, including a $6 million seed round in February 2023 with participation from investors like L Catterton, Alumni Ventures, and Hatzimemos/Libby. This capital is being used to scale production, expand its product line to include items like utensils and films, and further its R&D efforts. Keywords: seaweed resin, plastic alternatives, SEA Technology, bioplastics, compostable materials, sustainable packaging, Designed to Disappear, single-use plastic replacement, blue economy, ocean-farmed seaweed, material science, food service packaging, Blue Carbon Straw, regenerative materials, decarbonization, sustainable materials, circular economy, cleantech, biomaterials, eco-friendly utensils