TAGS: Sustainability / Natural Coatings
Xampla successfully completes a funding round raising US$7 million. The investment will be deployed to advance production of the UK company’s biodegradable, plant-based materials. This will support big brands to move away from single use plastic.
The funding round demonstrated significant investor confidence in Xampla. Its existing backers are Amadeus Capital Partners, Horizon Ventures, Cambridge Angels, Cambridge Enterprise and Martlet Capital. New investors include clean tech backers CIECH Ventures. It is a part of an international developing chemical group.
Total Investment of $17.6 Million
Xampla’s total investment to date stands at $17.6 million. The recent capital injection will expand the applications of Xampla’s consumer brand, Morro, into new markets.
Morro materials are fully biodegradable and home compostable and food safe. It offers high strength, grease and oxygen barrier properties. The core resin can be used to create a range of products. This will include sustainable packaging solutions, microcapsules and coatings.
The investment will help expand the applications of Morro Coatings. This is to see the technology replace plastic-based coatings. This includes takeaway packaging, sachets and cups.
The technology is trusted by many brands. This includes global drinks retailer – Britvic, British skincare experts - ELEMIS and meal-kit retailers – Gousto. Xampla will explore future applications of Morro Edible Film and Morro Soluble Film.
Driving Down Sustainable Materials Cost
In collaboration with key partners, Xampla will also optimize operational efficiency. It will be by driving down the cost of sustainable materials while upholding high-quality standards.
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This investment is a testament to the shared commitment of our backers. They can see that Xampla products are the gateway to a new era in materials sustainability,” said Alexandra French. He is the chief executive officer, Xampla.
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This new funding will support the expansion of our Morro material into new territories and new applications. It will also enable us to make a big impact. We are determined to lead the way towards a future where natural materials thrive, and traditional plastics become a thing of the past,” added French.
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Xampla’s innovative approach and impact on the industry align with the values of CIECH Ventures. Cleantech solutions capable of addressing real-world problems. This includes plastic pollution and promoting sustainable development,” said Szymon Smyk. He is the chief executive officer, CIECH Ventures.
Source: Xampla