Elea & Lili raises €2.5M to scale fossil-free absorbent materials

Elea & Lili, a deeptech startup spun out of VTT Technical Research Centre of Finland, has raised €2.5 million in seed funding to industrialise its cellulose-based superabsorbent material, a fossil-free and biodegradable alternative to conventional polymers. The round was led by Lifeline Ventures, with participation from Ikorni Invest Oy Ab and Baltiska Handels Sverige AB.The company builds on over a decade of biomaterials research at VTT, with the underlying technology and intellectual…