Next-generation materials company Xampla has raised 拢5.5 million in funding.
The investment will be deployed to advance production of the UK company鈥檚 biodegradable, plant-based materials, supporting big brands to move away from single use plastic.
Existing backers Amadeus Capital Partners, Horizon Ventures, Cambridge Angels, Cambridge Enterprise and Martlet Capital gave further backing while new investors include CleanTech backers CIECH Ventures, part of an international developing chemical group employing over 3,000 people.
Xampla鈥檚 total investment to date stands at $17.6m.
The recent capital injection will be strategically allocated to expanding the applications of Xampla鈥檚 consumer brand, Morro, into new markets.
Backed by 15 years of research at the University of Cambridge, Morro materials are fully biodegradable and home compostable, and food safe, offering high strength, grease and oxygen barrier properties.
The core resin can be used to create a range of products, including sustainable packaging solutions, microcapsules and coatings.
Building on the company鈥檚 recent partnership with the 2M Group of companies, the investment will help expand the applications of Morro Coating to see the technology replace plastic-based coatings in takeaway packaging, sachets and cups.
Its technology is already used by brands such as global drinks retailer Britvic, British skincare experts ELEMIS and meal-kit retailer Gousto.
Delivery platform that raised $100m in investment is sold for 拢66.73
鈥淭his 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,鈥� said Alexandra French, CEO.
鈥淭his new funding will support the expansion of our Morro material into new territories and new applications and enable us to make a big impact.
鈥淲e are determined to lead the way towards a future where natural materials thrive, and traditional plastics become a thing of the past.鈥�
Szymon Smyk, CEO at CIECH Ventures, said: 鈥淴ampla鈥檚 innovative approach and impact on the industry align deeply with the values of CIECH Ventures. Cleantech solutions capable of addressing real-world problems, such as plastic pollution, and promoting sustainable development are of particular interest to us.
鈥淲e are excited to support the development of Morro materials, which are both impressive and necessary in today鈥檚 world.鈥�
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