\n<\/p>\n
Notpla, a sustainable packaging solutions provider, has completed a Series A+ funding round, amassing \u00a320m ($26m) to propel the development of plastic-free materials.\u00a0\u00a0<\/p>\n
The funding, which far exceeded the company\u2019s initial target, was led by United Bankers and saw contributions from both new and existing investors, including Catalytic Capital for Climate & Health (C3H).\u00a0\u00a0<\/p>\n
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.\u00a0<\/p>\n
C3H director Ryan Tan said: \u201cNotpla\u2019s business is well aligned with Temasek Trust\u2019s impact focus areas. We believe that Notpla\u2019s 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.\u201d\u00a0<\/p>\n
Notpla intends to use the funds to accelerate its expansion into markets with high demand for plastic-free solutions, notably North America.\u00a0\u00a0<\/p>\n
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.\u00a0<\/p>\n
Access the most comprehensive Company Profiles
\n on the market, powered by GlobalData. Save hours of research. Gain competitive edge.<\/p>\n