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Xampla secures $14 million new investment to replace 10 billion units of single-use plastic
A major injection of more than $14m in private capital is set to accelerate Xampla’s mission to replace single-use plastics with alternatives made from plants.
Lead investor Emerald Technology Ventures runs Europe’s first specialist, venture-backed investment fund targeting the full packaging lifecycle. The fund aims to catalyse leaps in advanced materials that benefit the planet and earn significant returns.
Also leading the Series A round is BGF, one of the largest growth capital investors in the UK and Ireland, and Munich-based Matterwave Ventures, along with follow-on investment from existing investors including Amadeus Capital Partners and Horizons Ventures.
Neil Cameron Emerald Technology VenturesWorking with Xampla is part of our mission to turbocharge a revolution in innovative packaging. This technology hits the sweet spot I search for: a big solution to a big problem that can reap big rewards. And with its current global traction, there is huge potential to scale even further.
Over the next five years, the funding will see Xampla’s revolutionary Morro™ materials replace more than ten billion units of the most polluting single-use plastic, including plastic linings found in takeaway boxes, coffee cups and sachets.
Global plastic production is estimated to rise to a billion tonnes annually, and with less than 10% of plastic ever produced being recycled, there are now 8 billion tonnes of plastics and microplastics in our global environment.
Xampla’s Morro materials offer a world-first natural polymer alternative. Made from regenerative plant proteins, they are completely plastic-free, biodegradable and home compostable.
Ines Kolmsee Matterwave VenturesXampla’s mission fully aligns with ours: they are tackling a major sustainability issue with smart technology that can be used in existing equipment, making it both easy to adopt and capital efficient. They have got their product out of the lab and into the market. It is a remarkable achievement and I know they will now go from strength to strength.
Rowan Bird BGF“We believe in the strength of the team, the quality of the product, and the positive role Xampla can play in helping reduce reliance on polluting plastics. We’re excited to support their continued growth as they bring this innovation to more partners and applications.”
Through partnerships with big names such as 2M Group of Companies, Huhtamaki and Transcend Packaging, Xampla has already replaced polluting coatings on boxes used by food delivery giant Just Eat Takeaway and Bunzl Catering Supplies.
Unlike plastic, Morro™ Coating also maintains the recyclability of cardboard without compromising on grease, oxygen and moisture barrier properties.
The company’s Morro™ films, being commercialised through global partnerships, are soluble, giving them the potential to replace polluting plastic PVA films in dishwasher tablets and laundry pods. They are also food-safe and can be used as edible replacements for packaging a wide range of single-serve products, from sweets to soups.
Alexandra French CEO, XamplaThis is a major vote of confidence for our revolutionary replacements for polluting plastics, and will see us expanding into Asia Pacific as well as growing in the UK and Europe. We have proven to investors and to brands that Morro™ materials are the real deal in making plastic a material of the past. Our ambition now is nothing less than to see our products – proudly bearing their Morro marque – become the world’s go-to plastic replacement.