EQUO Raises $1.3 Million for Eco-Friendly Options
Vietnam-based sustainability company, EQUO, has raised $1.3 million USD in seed funding. Leading the seed round is NextGen Ventures with participation from Techstars and East Ventures.
Founded in 2020 by Marina Tran-Vu, 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, convenient to use, without asking consumers to change their lifestyle or behavior. EQUO differentiates itself through distinct branding that captures the consumer’s attention in traditionally overlooked categories; and focusing on education of new sustainable materials.
EQUO, which recently was named one of nine winners of the UNOPS S3i Innovation Center Sweden Global Challenge and a Top 18 Finalist in the Ending Plastic Pollution Innovation Challenge by the UNDP, is currently available on Amazon in US, Canada and Australia; on their website; wholesaler site Faire; and select F&B establishments and retailers in Vietnam, Singapore and Europe.
As a sole female founder, Tran-Vu is part of a small percentage of startups founded solely by women who received venture capital or private funding. Latest statistics show that startups founded only by women in SE Asia received a mere 0.6%, and globally, less than 2% of total investment backing.
