Paptic’s Innovative Funding Round
Paptic, a pioneering company specializing in wood-fibre-based packaging materials, has recently closed a significant 4.5-million-euro funding round. Led by the UB Forest Industry Green Growth Fund, with participation from Emerald Technology Ventures, SIG InnoVentures, and EIF Fund, this funding marks a milestone in Paptic’s journey towards revolutionizing the packaging industry.
Fredric Petit, partner at Emerald, expressed confidence in Paptic’s ability to address the pressing issue of packaging waste, highlighting the company’s innovative approach to tackling industry challenges.
This recent funding adds to the 23 million euros raised by Paptic in the previous year, emphasizing the company’s commitment to developing manufacturing partnerships, expanding its product portfolio, and increasing global availability. With a total of 27.5 million euros in growth financing amassed in 2023, Paptic is poised for significant expansion and impact.
CEO and co-founder Tuomas Mustonen outlined the company’s ambitious revenue goal of 100 million euros by 2026, underscoring Paptic’s dedication to sustainable packaging solutions on a global scale.
Sulapac’s Strategic Partnership with Texen Group
In parallel, Sulapac, another trailblazing company in the sustainable packaging sector, has announced a strategic partnership with Texen Group, a prominent player in the luxury and beauty packaging industry.
Sulapac’s bio-based and biodegradable materials align perfectly with Texen Group’s sustainability objectives, offering high aesthetic and quality standards while prioritizing ecological responsibility. Denis Paccaud, Texen Group’s innovation director, praised Sulapac’s innovative solutions, emphasizing the added value they bring to customers seeking eco-friendly alternatives.
As part of the partnership, Texen Group will integrate Sulapac materials into its product offerings, providing customers with a diverse range of sustainable options, including injection-moulded caps and closures.
Founded in 2016 by three scientists, Sulapac has a proven track record of successful collaborations with renowned beauty brands such as Chanel and Shiseido, with Chanel also investing in the company. Sulapac’s portfolio extends beyond packaging to include eco-friendly alternatives for straws and cutlery, further solidifying its position as a leader in sustainable materials innovation.
Driving Sustainability and Innovation in Packaging
The partnerships and funding secured by Paptic and Sulapac underscore the growing momentum towards plastic-free alternatives in the packaging industry. With innovative approaches and strategic collaborations, these companies are at the forefront of driving meaningful change and shaping the future of sustainable packaging.
As consumer demand for eco-friendly solutions continues to rise, Paptic and Sulapac are well-positioned to lead the charge towards a more sustainable and environmentally conscious packaging ecosystem.
To know more visit – https://paptic.com/
To read more startup stories – https://finlandbusinesspress.fi