Notpla, a London, UK-based innovator in sustainable packaging, raised 20m in Series A funding.
The round was led by UB Forest Industry Green Growth Fund with participation from Catalytic Capital for Climate & Health (C3H), as well as Horizons Ventures and Astanor, including the Schmidt Family Foundation, Radicle Impact, EIT Food’s AgriFoodInvest, Broadwater Cap, Kibo Invest, Rosebrook, Trousdale Ventures, and Ocean Born Foundation.
The company intends to use the funds to accelerate expansion into the North American market, to scale up manufacturing capabilities, and to broaden the product range.
Led by Rodrigo Garcia Gonzalez, and Pierre Paslier, Notpla is a sustainable packaging innovator who develops scalable materials made from seaweed and plants. These plastic-free alternatives include seaweed-coated food containers, edible liquid bubbles and flexible film replacements. To date, their solutions have already replaced 13 million pieces of single-use plastic from entering our environment.
Since launching in 2014, Notpla has replaced over 16 million single-use plastic items across
Europe, from their seaweed-lined takeaway food containers, to their famed ‘Ooho’ – an
edible liquid bubble. It is expected that they will dramatically increase this volume to over
100 million units annually within the next 2 years. The company’s innovative packaging, which is both plastic-free and home-compostable, has been adopted by major corporations in Europe including Compass Group, Decathlon, and Just Eat Takeaway.com. Notpla’s materials are currently used in 10 European markets and help to eliminate plastic in leading stadiums and venues such as Aston Villa FC, The O2 Arena, Allianz Stadium, and Tottenham Hotspurs.
FinSMEs
01/10/2024