Notpla, the innovative leader in sustainable packaging and winner of The Earthshot Prize 2022, has successfully completed a £20 million (over US$25 million) fundraising round. This achievement not only doubles the company’s initial target but also demonstrates the growing confidence in its mission and business model, even amid challenging economic conditions.
The recent funding round, led by United Bankers, was bolstered by a diverse group of existing and new investors, including Catalytic Capital for Climate & Health (C3H), an impact-first vehicle by Temasek Trust. Existing supporters, such as Horizons Ventures and Astanor, were joined by new participants like the Schmidt Family Foundation, Radicle Impact, and EIT Food’s AgriFoodInvest, among others. This impressive backing will enable Notpla to scale its manufacturing capabilities, expand its product range, and establish a significant presence in new markets, particularly in North America.
Ryan Tan, Director of Catalytic Capital for Climate & Health at Temasek Trust, commented, “Notpla's business is well aligned with Temasek Trust's impact focus areas. We believe that Notpla’s strong customer traction and product innovation position them well for further business expansion, as they realise even more impact and reduce the environmental harm caused by single-use plastics. We are proud to be part of Notpla’s journey and to see it growing from strength to strength since winning The Earthshot Prize, of which we are a Founding Partner.”
Transforming the Packaging Landscape
Since its inception in 2014, Notpla has been on a mission to replace single-use plastics with its innovative, seaweed-based packaging solutions. The company’s notable products include seaweed-lined takeaway food containers and the famed ‘Ooho’ – an edible liquid bubble. To date, Notpla has replaced over 16 million single-use plastic items across Europe and aims to dramatically increase this volume to over 100 million units annually within the next two years.
The company’s sustainable packaging has been embraced by leading corporations such as Compass Group, Decathlon, and Just Eat Takeaway.com, and is currently utilized in 10 European markets. Notpla's materials are helping eliminate plastic in prominent venues, including Aston Villa FC, The O2 Arena, Allianz Stadium, and Tottenham Hotspur Stadium. This widespread adoption highlights the increasing consumer demand for environmentally friendly packaging alternatives.
In 2023, Notpla achieved a significant regulatory breakthrough when the Dutch government recognized their food packaging coating as the only application that met its definition of plastic-free under the Single Use Plastic Directive. This recognition sets Notpla apart as a true innovator in the sustainable packaging industry, particularly as hundreds of other applications claiming to be plastic-free have not met the stringent criteria.
Looking Ahead: Expansion and Innovation
The recent funding will be pivotal as Notpla accelerates its growth and prepares for expansion into the North American market. Co-Founders and Co-CEOs Rodrigo Garcia Gonzalez and Pierre Paslier, who conceptualized the company during their studies at Imperial College London, expressed their excitement and optimism for the future.
"We are thrilled to have secured this level of investment in such a competitive environment," said Rodrigo Garcia Gonzalez. "This round not only validates our approach but also positions us to capitalize on the growing demand for truly plastic-free packaging solutions in global markets, especially as we look towards expansion into the US."
Pierre Paslier added, "Our investors recognize the commercial potential of our technology and our unique solutions. This funding allows us to accelerate our growth and continue leading the market in sustainable innovation."
Notpla’s vision is clear: to provide sustainable, plastic-free packaging solutions that do not compromise on functionality or usability. With this recent financial boost and the support of a robust network of investors, Notpla is well-positioned to scale its impact globally, helping to create a future where plastic waste is a relic of the past.
As the world increasingly shifts towards sustainable alternatives, Notpla stands out as a beacon of innovation and hope, showing that with the right technology and investment, a plastic-free future is within reach.
Comments