Decomer Technology, an Estonian startup developing edible packaging, has raised investments worth $350,000 (€314,000) so far and is planning to raise an additional $1.1million in 2020.
The founder of Decomer Technology, Mart Salumäe, told BNS the company was active in San Francisco for a large part of last year, taking part in the IndieBio life science accelerator.
"In 2020, we are planning to launch the sale of own products and continue product development and tests with some of the world's biggest manufacturers of basic necessities," Salumäe said.
"Our current material is fully of plant origin and edible, the components can be used in the food industry. It is also rapidly soluble. In the long run we wish to make the material more resistant to water as well, while the applications will move beyond the food industry," he said.
Decomer Technology has its origins at the University of Tartu. In connection with its participation in IndieBio and investments, the company is also represented in Silicon Valley.
In December, Decomer Technology secured a place among the top three finalists at a competition for startups in Berlin which was searching for solutions to challenges related to the living environment and the climate. It was the only Estonian company to make the finals of Extreme Tech Challenge.
Editor: Helen Wright