Xampla has raised US$7 million (€6,466,250) in its latest funding round; the money is intended to help expand its biodegradable, food-safe Morro Coating for takeaway packaging, sachets, and cups into new markets and support the transition away from single-use plastics.
Among the new investors were clean tech backets CIECH Ventures, which forms part of an international developing chemical group. Existing partners Amadeus Capital Partners, Horizon Ventures, Cambridge Angels, Cambridge Enterprise, and Martlet Capital also backed the funding round.
Reportedly, Morro materials are fully biodegradable, home-compostable, and food-safe. Developed from fifteen years of research at the University of Cambridge, they are said to provide high strength, grease, and oxygen barrier properties.
Their core resin can be used in sustainability-minded packaging, microcapsules, and coatings, alongside other products.
The recent capital injection is set to advance the production of Morro materials and expand the consumer brand into new markets – a move hoped to help manufacturers phase out single-use plastics in their packaging solutions.
Xampla will also set its sights on future applications for its Morro Edible and Morro Soluble Films, while the implementation of its Morro Nutri product is set to preserve and stabilize the vitamins and nutrients in food and drink products.
Additionally, the company will work with its new partners to lower the costs of sustainability minded materials, maintain high quality standards, and optimize operational efficiency.
To date, Xampla’s total investment stands at $17.6 million.
Alexandra French, CEO at Xampla, stated: “This investment is a testament to the shared commitment of our backers, who can see that Xampla products are the gateway to a new era in materials sustainability.
“This new funding will support the expansion of our Morro material into new territories and new applications and 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.”
“Xampla’s innovative approach and impact on the industry align deeply with the values of CIECH Ventures,” added Szymon Smyk, CEO at CIECH Ventures. “Cleantech solutions capable of addressing real-world problems, such as plastic pollution, and promoting sustainable development are of particular interest to us.
“We are excited to support the development of Morro materials, which are both impressive and necessary in today’s world.”
This latest investment builds on Xampla’s partnership with 2M Group of Companies to scale up the production and distribution of its plant-based materials. The partners were subsequently awarded the Innovate UK Smart Grant for further scaling.
Consumer brands have also been working with Xampla in an effort to enhance the sustainability of their product packaging. This includes skincare company ELEMIS, who have revealed biodegradable sampling sachets for skincare products that use leftover waste from the company’s plant crops to produce biofilm.
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