Cruz Foam, a circular materials company providing bio-based, regenerative replacements for single-use plastic in the multi-billion dollar packaging industry, announced an $18M Series A funding round led by the problem-solving group, Helena. The round was joined by One Small Planet, Regeneration.VC, At One Ventures, and SoundWaves.

Cruz Foam is scaling the production of circular materials with existing industries catalyzing the transition of global supply chains away from harmful single-use materials for protective packaging and other uses. The first line of products targets plastic foam. The company was founded in 2017 by John Felts, CEO, and Marco Rolandi, Chief Science Officer, with a mission to replace single-use, petroleum-based plastics starting with replacements for EPS and EPE and moving into new spaces such as cold chain and primary packaging for consumer packaged goods. The sustainable packaging market is expected to grow to $358B by 2028.