Business angels continue to pay close attention to growth and development of Sulapac. The Finnish start-up specialising in innovative and sustainable alternatives to plastic packaging materials has raised an exceptional 15 million euros to engine its scale-up and internationalization.
Enlarged portfolio and new capabilities
The funding comes from Chanel, who initially took stake in the start-up in December 2018, Mousse Partners, Sky Ocean Ventures, Bonnier Ventures, and Lifeline Ventures, accompanied with a group of private investors. “The partners were carefully chosen with the emphasis on long-term support, commitment to sustainability, and expertise relevant to Sulapac’s growth,” claims the company in a statement.
Thanks to this new funding, Sulapac intends to scale-up the production of its microplastic-free material and continue the development of new and improved formulas, including a flexible version of its “Universal Material for Injection Molding” that has been designed to replace plastic.
Sulapac’s patented material is biodegradable and made primarily from renewable raw materials, and combines premium look and feel with sustainability.
New collections of beauty jars
In parallel, Sulapac has joined forces with beauty packaging provider Quadpack. As a result of the partnership, Quadpack will launch the new Sulapac Nordic Collection in Spring 2020, which includes 15ml, 30ml and 50ml jars. New packaging types are also expected to be introduced to complement the portfolio soon.
The partnership will allow to enlarge the production scope of sustainable beauty packaging made from the Sulapack’s microplastic-free material and to broaden capacity for customisation for the packs.
“We’ve got thousands of enquiries from cosmetics customers all over the world about our Nordic Collection and it has been sold out already in August 2019. The partnership with Quadpack, one of the top 10 European providers of cosmetics packaging, ensures we can more effectively serve a wider customer base,” says Sulapac’s Head of Sales Ami Rubinstein.