Finnish Metsä Spring leads €360K round for Swedish biotech Adsorbi

Gothenburg-based startup Adsorbi has raised €360,000 in a seed round of financing for its bio-based air purification material that can remove pollutants from indoor air and decrease odors. The round was led by Metsä Spring, and joined by Chalmers Ventures and Jovitech Invest.

• Founded by a team of researchers from Chalmers University of Technology in 2022, Adsorbi is a startup company offering bio-based materials for air pollutant and odor removal. Adsorbi develops material from a renewable resource, wood, and has a low environmental impact and long product lifetime.

• Metsä Group is an Espo-based company, that invests in growth sectors of the forest industry: wood supply and forest services, wood products, pulp, fresh fiber paperboard, as well as tissue and greaseproof papers. Metsä Group’s annual sales amount is €7 billion and the team has around 9,500 employees in 30 countries. In February, this year, the company led a €3 million round for local deeptech Fiberwood for its eco-friendly insulation and packaging solution.

“We are very excited to invest in Adsorbi, which has a diverse and solid research background and business-minded founding team. It is also working on a product made out of pulp, which makes Adsorbi of particular interest to Metsä Group. With Adsorbi in our portfolio, we are yet another step closer to removing fossil-based materials from everyday products”,

Niklas von Weymarn, CEO of Metsä Spring, said.

• To date, Adsorbi marks Metsä Spring’s first Swedish startup investment. The round was also joined by Swedish VC firms Chalmers Ventures and Jovitech Invest.
• Adsorbi will spend the fresh costs to continue studying product application possibilities and increase sales.