Sparxell, the UK-based developer of high-performance, sustainable, plant-based pigments, has completed a $3.2 million funding round to accelerate development and commercialization of products that will eliminate synthetic chemicals from colorants in multibillion dollar markets including in cosmetics, fashion, paint, and packaging.WHO: Sparxell was founded in 2022 by Cambridge scientists, led by Dr. Benjamin Droguet and Professor Silvia Vignolini, who discovered ways to replicate vibrant colors in nature using entirely plant-based cellulose, a renewable, biodegradable resource that can be extracted from waste streams. Sparxell’s pigments use the same material many plants and animals use to produce vivid, durable, and fade-resistant colorants. The products are toxin-free and fully biodegradable with a color intensity that lasts longer than traditional colorants and pigments on the market.WHY: The colorants market is worth an estimated $38 billion and is expected to grow to over $100 billion by 2030. Funds raised will enable Sparxell to expand its manufacturing capacity to support pilot production, secure further product development partnerships with brands, undertake more product trials with key manufacturers and distributors, and expand headcount. Based on the growth trajectory and levels of interest in co-developing applications for Sparxell pigments across a range of industries, the company expects to launch a Series A funding round in the coming months to upscale production capacity and accelerate commercialization.