Novel Investments family office invests in Uluu’s Series A

Uluu, a Perth‑based startup developing seaweed‑derived bioplastic alternatives, closed a AUS$16 million Series A funding round. The round was led by Burda Principal Investments, with participation from Main Sequence, Novel Investments (the family office of a leading textile firm from Hong Kong), accelerator Startmate and a consortium of impact and family investors including Fairground and Trinity Ventures. Uluu said the capital will scale production from its current 100 kg‑per‑year pilot facility to a 10‑tonne‑per‑year demonstration plant in Western Australia, enabling commercial volumes for customers. Cofounders Dr Julia Reisser and Michael Kingsbury have developed a fermentation process that converts seaweed into materials that perform like conventional plastics and can be processed using existing manufacturing equipment while potentially sequestering and avoiding carbon emissions.

About Novel Investments: The Hong Kong-based Chao family office

Novel Investments Limited serves as the family investment arm of Hong Kong’s Chao family, owners of Novetex Textiles. The family office oversees the family’s investments, portfolio management and property redevelopment projects. Ronna Chao — a member of the founding family — acts as managing director of Novel Investments and vice‑chairman of Novetex, leading the group’s strategy. Novel Investments deploys long‑term capital across real estate, manufacturing and innovative ventures. Its participation in Uluu’s Series A reflects the family office’s interest in environmentally friendly materials and circular‑economy solutions.

Picture Source: Oleksandr Sushko (3.11.2025)
Article Source: Finsmes (4.11.2025)