Saving the world from plastic waste comes one step closer
Finnish start up #Sulapac raised an exceptional €15 million to engine its scale up and internationalisation. The funding enables further development and broadening of its recipe portfolio. The investors include the leading luxury house Chanel and international media houses, all with valuable expertise to accelerate Sulapac’s expansion.
The investment round enables Sulapac to replace #plastic with its #microplastic free material innovation, to scale up its material production and continue the development of new and improved formulas, including a flexible version of its universal material for injection molding.
One of Sulapac’s groundbreaking innovations is the sustainable mass producible #straw that is now available for brands and consumers.
The funding comes from Chanel, Mousse Partners, Sky Ocean Ventures, Bonnier Ventures, and Lifeline Ventures, accompanied with a group of private investors. The partners were carefully chosen with the emphasis on long term support, commitment to sustainability, and expertise relevant to Sulapac’s growth.
‘We are excited that these international players recognise the potential of our innovation and support our mission to save the world from plastic waste. The renewed support from the leading luxury house Chanel also indicates that sustainability is a priority in the luxury market. As a truly sustainable alternative celebrating premium quality and design, Sulapac is the perfect fit for this segment,’ said Sulapac CEO Suvi Haimi.
Suvi is pleased with the investors’ input: ‘We want to make Sulapac the number one sustainable material replacing plastic. Lifeline Ventures, which was also one of our seed funders, has strong experience in building international growth stories. Chanel brings exceptional customer insight while Sky Ocean Ventures and Bonnier Ventures with their comprehensive understanding of the international media landscape can support us in building our brand recognition and help expand to the international markets.’
Jamie Rowles, head of investments at Sky Ocean Ventures, added: ‘As part of Sky’s commitment to tackle plastics in our oceans, we are investing in Sulapac to support its plan to scale up the potential of its sustainable, microplastic-free material innovation.’
Besides new investors, Sulapac’s growth will be supported by its newly appointed advisors, including Sophia Bendz, who was previously in charge of Spotify’s global marketing and is now a partner at venture capital firm Atomico, and Charli Kumar, who launched and leads Sky’s start up TV business in Spain. Jukka Moisio, former CEO of the global food packaging specialist Huhtamäki, recently started as the Chair of Sulapac’s board of directors.