Notpla, a sustainable packaging solutions provider, has completed a Series A+ funding round, amassing £20m ($26m) to propel the development of plastic-free materials.
The funding, which far exceeded the company’s initial target, was led by United Bankers and saw contributions from both new and existing investors, including Catalytic Capital for Climate & Health (C3H).
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Based in London, UK, Notpla offers natural alternatives to single-use plastics and established, industrially scaled solutions, seaweed-coated food containers, edible liquid bubbles, and flexible film replacements.
C3H director Ryan Tan said: “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.”
Notpla intends to use the funds to accelerate its expansion into markets with high demand for plastic-free solutions, notably North America.
Additionally, the investment will enhance the development of seaweed-based packaging solutions, aiming to replace more than 100 million single-use plastics annually within the next two years.
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By GlobalDataSince its inception in 2014, Notpla has eliminated 16 million single-use plastics.
The company’s materials are already utilised in ten European markets and have been adopted by prominent stadiums and venues, including Aston Villa FC, The O2 Arena, and Allianz Stadium.
Notpla co-founder and co-CEO Rodrigo García González said: “We are thrilled to have secured this level of investment in such a competitive environment. This round not only validates our approach but also positions us to capitalise on the growing demand for truly plastic-free packaging solutions in global markets, especially as we develop our material’s possibilities.”
In March this year, Notpla partnered with Duni Group to introduce a plastic-free packaging range featuring seaweed coating.
