Canadian reusable packaging solution provider Friendlier has closed a $5m seed extension round to further expedite its business expansion efforts.
This funding round was led by two investors, including Relay Ventures and Garage Capital, along with the support of other founders and operators.
Friendlier, which was founded in 2019, intends to help Canadian businesses to switch to sustainable reusable packaging alternatives and replace single-use items.
The company offers reusable plastic containers at the same price as single-use containers.
Friendlier will leverage the proceeds from the latest round to speed up its business expansion and further strengthen its sales team to address the increasing demand of its customers.
It is also planning to set up new facilities in Guelph and Vancouver within the country.
Friendlier aims to gradually establish a reverse supply chain that can support reusable packaging at scale.
All these efforts are in line with Canada’s move to implement a nationwide ban regarding the sale and distribution of single-use plastics starting this month.
This effort was recently withdrawn and the government is now planning to file an appeal, Friendlier added.
Friendlier CEO Kayli Dale said: “While the ban would help us capture the market that is resisting change away from single-use packaging, many brands are committed to improving the sustainability of their packaging regardless of the federal regulations.”
So far, Friendlier has raised $8.35m, which includes $5m from seed extension, as well as $850,000 and $2.5m from its preseed and seed funding rounds, respectively.
It has also received more than $1m in non-dilutive funding.
Recently, Friendlier marked a key milestone of reusing one million containers, which it says is equal to saving 127,000lb of plastic waste, 370,000lb of carbon dioxide emissions, and eight million litres of water.