Ho Chi Minh, Vietnam – Vietnam-based sustainability company EQUO has raised US$1.3m in a seed funding round, which will be used to increase EQUO’s brand awareness and exposure globally, expand the product line, and develop technical capabilities to drive the business.
The funding was led by NextGen Ventures, as well as with participation from Techstars and East Ventures.
Founded in 2020, EQUO provides 100% plastic-free and compostable solutions made of materials like coffee, coconut, and sugarcane to replace single-use plastics. The company aims to disrupt the industry by offering solutions that are easy and convenient to use, without asking consumers to change their lifestyles or behaviour.
Marina Tran-Vu, EQUO’s founder and CEO, noted that the company will be offering products made from alternative materials – but doing it in a fun and approachable way that gets consumers, businesses and big corporations to pay attention.
“Our vision is to replace all single-use plastic on the planet. This isn’t just about the visible plastic we see in our environment, but also about the downstream effects of microplastics. We are excited about the new products we are delivering this year to show the world all the things we can do WITHOUT single-use plastic and paper,” said Tran-Vu.
