ABOUT WOAMY

• Woamy began life as Foamwood, a research project at Aalto University in Espoo, Finland. It launched as a standalone company in June 2022 following a technology transfer agreement.

• Woamy’s namesake material, Woamy, is a bio-based foam made from agricultural waste fibres, including Wood chips, recycled cardboard pulp, and wheat stalks. (Woamy has found it's possible to use "almost any fibre-based raw material that creates a network structure".) Food grade Cellulose and water complete the list of raw materials needed to make the foam.

• Woamy claims its material can dissolve in water in 15 minutes, and that it is compostable in both home and industrial settings. It can be recycled with cardboard and, due to its non-toxic nature, it is even edible. 

• The foam mimics the anisotropic nature of wood, meaning it exhibits different properties when measured across different axes. In one direction, Woamy is incredibly strong and shockproof, while in the other it is highly insulating.

• Despite its strength, Woamy has a very low density. The robust and lightweight nature of the material led to it being formed into protective packaging as a replacement for styrofoam packing peanuts.

• With further R&D, Woamy believes the material could also be used for shoe soles, laminated boards, mattresses, food packaging, and building insulation. 

• Woamy has worked with a number of partners and collaborators on pilot products, including footwear company VIBAe, packaging company Paptic, and interior design and lighting company Secto Design.

• Over a three month span starting in June 2022, Woamy made EUR 22,000 (USD 23,347) in proof of concept sales.

• In January 2023, the company closed a seed funding round led by CMPC Ventures, which raised EUR 1 million (USD 1.1 million). Secto Design was also among the investors.

• Woamy plans to use the funds raised from its seed round to scale the machinery that makes its foam. Part of this process will involve condensing the machinery down to the size of a shipping container. These shippable machines can then be licensed and sent around the world, allowing Woamy to be manufactured in any market. "Our main goal is to actually make a positive environmental impact and [a] profitable, sustainable strategy for our bio-based material," says COO and co-founder Mohamed Elamir.

• By the end of 2023, the team expects to be producing five cubic metres of foam per day.

• The Woamy team is currently 11 strong, with five founders, two full time employees, and four part time employees. Its headquarters are still located close to Aalto University, ideal for working with interns and student researchers. "We are hoping to build a community of people who actually care about such alternatives and accelerate such materials to reach the market, [so] everyone is able to have access to these materials," says Elamir.

• The brand was part of the Kiuas Accelerator programme, one of the top startup accelerators in Finland. The programme helped solidify the company’s structure, and helped with sales, marketing, fundraising, and investment connections.