Foamlab B.V., a spin-off from Delft University of Technology, has raised a funding round from a consortium of ICOS Capital, Value Factory Ventures, DOEN Ventures, Capricorn Industrial Biotech Fund, and TTT Green Tech Fund managed by SHIFT Invest. The investment enables the company to build a pilot plant, scale production and accelerate the commercial rollout of its bio-based foam materials.
Originating from cutting-edge research from the Faculty of Industrial Design Engineering of Delft University of Technology, Foamlab develops a new class of sustainable foams made from bacterial cellulose, a natural and renewable material grown through fermentation. Each year, millions of tonnes of fossil-based plastic foams are used in packaging, textiles, furniture, and construction- materials that generate persistent waste and are nearly impossible to recycle. Foamlab’s bacterial cellulose-based foams offer a circular alternative by design: bio-based, compostable, and tunable in their properties. From soft, textile-like foams to rigid, structural solutions, Foamlab enables high-performance applications with minimal environmental impact. By collaborating with forward-thinking partners, Foamlab accelerates the transition to a regenerative, bio-based materials economy.
The round is led by ICOS Capital, an investor focused on accelerating the transition to a sustainable and circular economy by backing scalable deeptech solutions with clear market traction. Value Factory Ventures, DOEN Ventures, Capricorn Industrial Biotech Fund, and TTT Green Tech join as co-investors.
Peter van Gelderen, Managing Partner at ICOS Capital: “We are very pleased to support Foamlab in their next, exciting scale-up phase. Their robust production technology for bacterial nanocellulose foam provides sustainable alternatives for fossil-based materials, for construction insulation, high-end packaging, and fashion, thus addressing a major materials transition with a scalable and sustainable solution.”
Jeroen van Rotterdam, CEO of Foamlab: “We are very proud to bring together such a strong group of impact investors. We see growing demand for our bacterial nanocellulose foams across multiple industries. This funding enables us to scale production, serve early customers, and accelerate our path to market. Beyond capital, our investors bring hands-on support and valuable networks.”
About Foamlab
Foamlab is rethinking how foams are made. By using microorganisms, the company develops bio-based foams that are lightweight, strong, and fully compostable. Its ambition is to replace conventional oil- and mineral-based foams across industries such as construction, furniture, fashion, and packaging. Learn more at www.foamlab.co.
About ICOS Capital
ICOS Capital is a climate tech venture capital firm that invests from its fourth fund under management, in early-stage European companies with breakthrough technologies for food systems, (bio-)chemicals, (bio-)materials, and industrial digitization, aiming to accelerate sustainability and decarbonization. Over almost 20 years, ICOS has built a strong collaborative model, partnering with large, global corporations to provide hands-on support, access to networks, as well as capital for innovative startups focused on large-scale impact and circularity, targeting significant CO₂ reductions. ICOS brings together fast growth innovators with sector leading corporations to facilitate growth with deep financing, engineering and production expertise, infrastructure and market access. Learn more by visiting www.icoscapital.com.
About Value Factory
Value Factory Ventures is a Rotterdam-based venture capital firm investing in early-stage startups in Agritech, Food, and Climate. Value Factory backs down-to-earth founders building disruptive deeptech solutions that drive real-world impact. The focus includes innovations in sustainable food systems, climate technologies, and the future of sustainable building. By combining capital with hands-on support, Value Factory helps companies scale solutions that combat climate change and improve food security. Learn more at https://valuefactory.vc.
About DOEN Ventures
DOEN Ventures is an impact investor in sustainable and social start-ups in the Netherlands, with more than 30 years of experience supporting innovative companies that contribute to a greener and more inclusive world. Impact is central to all investments. DOEN Ventures focuses on early-stage companies and is willing to take risks to accelerate positive change. The organisation is fully owned and managed by Stichting DOEN, which was founded by the Postcode Lottery. https://doenventures.com/
About Capricorn Partners
Capricorn Partners is an independent European manager of venture capital funds investing in innovative European companies with technology as competitive advantage in the areas of digital, health and cleantech. Through our experienced team of engineers, scientists, financial experts and former entrepreneurs, we actively support and guide promising founders in their growth journey. Capricorn Partners is also the management company of the public private Quest for Growth, quoted on Euronext Brussels.
The investment in Foamlab is made by the Capricorn Industrial Biotech Fund. This fund is an initiative of Capricorn Partners, DSM-Firmenich and InnovationQuarter to provide crucial early-stage funding and expert guidance for ventures who use the power of biotechnology to solve industrial challenges. www.capricorn.be
About TTT Green Tech Fund, managed by SHIFT Invest
SHIFT Invest is a leading Dutch impact venture capital fund founded in 2009 and currently investing from its fourth fund. It backs early- and growth-stage companies in food & agriculture, green industries, the energy transition and sustainable mobility & logistics in North-West Europe. Investments (seed, Series A, and growth) focus on bringing meaningful sustainability innovations to market and supporting their commercial success, delivering both environmental and financial returns. Beyond capital, SHIFT supports entrepreneurs with deep expertise, access to an extensive partner-network and strategic guidance.
SHIFT invests in Foamlab from the Thematic Technology Transfer GreenTech fund (TTT), a collaboration with TNO, RVO and the Dutch universities of Wageningen (WUR), Eindhoven (TU/e), Twente (UT), Delft (TUD), Groningen (RUG), Nijmegen (RU), and Utrecht (UU). The TTT fund focuses on supporting early-stage companies that bring to market disruptive technologies with a strong impact potential. The aim of the fund is to accelerate the transition to a more sustainable economy. https://shiftinvest.com/
Source
Foamlab, press release, 2026-04-23.
Supplier
Capricorn Partners
Foamlab B.V.
Icos Capital
SHIFT INVEST
University of Technology, Delft (NL)
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