Notpla, a leading innovator in sustainable packaging, has announced a significant investment of £20 million (over $25 million) to accelerate its expansion into the North American market and develop new, seaweed-based packaging solutions.
The funding, which was oversubscribed despite challenging economic conditions, will be used to scale up manufacturing capabilities, broaden the product range, and establish a foothold in new markets. The investment is led by UB Forest Industry Green Growth Fund, with support from existing investors Horizons Ventures and Astanor, as well as several new investors including Catalytic Capital for Climate & Health (C3H), a vehicle by Temasek Trust.
The funds will enable Notpla to further reduce the environmental impact of packaging by replacing over 100 million single-use plastics with its innovative, seaweed-based solutions. The company has already replaced over 16 million single-use plastic items across Europe since its launch in 2014.
Notpla’s seaweed-lined takeaway food containers and edible liquid bubbles, known as “Ooho,” have gained popularity among consumers and major corporations alike. The company’s products are currently used in 10 European markets and have been adopted by leading brands such as Compass Group, Decathlon, and Just Eat Takeaway.com.
“Notpla’s innovative approach to sustainable packaging is a significant step towards reducing the environmental impact of packaging globally,” said David Walker, Senior Partner at UB Forest Industry Green Growth Fund. “We believe that this investment will enable Notpla to continue leading the charge in reducing plastic waste and promoting sustainable practices across industries.”
The company’s materials are proven to meet the stringent criteria set by the Single Use Plastic Directive (SUPD), making them a viable alternative to traditional single-use plastics. Notpla’s co-founders, Rodrigo Garcia Gonzalez and Pierre Paslier, expressed their excitement about the investment and its potential to accelerate their growth and innovation.
“We are thrilled to have secured this level of investment in such a competitive environment,” said Garcia Gonzalez. “This funding will allow us to capitalize on the growing demand for truly plastic-free packaging solutions in global markets and expand our operations into the US.”
Paslier added that the company’s investors recognize the commercial potential of their technology and unique solutions. “This funding will enable us to continue leading the market in sustainable innovation and drive meaningful change in the packaging industry.”
