The Finnish startup Sulapac has raised the exceptional amount of 15 million euros to accelerate its development and internationalization. This financing allows the brand to continue expanding its revenue portfolio. Among the investors are Chanel as well as international press organizations. Their invaluable expertise will help accelerate Sulapac's expansion.
With this funding, Sulapac can increase the production of its microplastic-free material that will replace plastic. The startup may also continue to develop new and improved formulas, including a flexible version of its universal injection molding material. Sulapac has several innovations to its credit, including the world's most sustainable mass-produced straw, now available to brands and consumers.
The financing is carried by Chanel, Mousse Partners, Sky Ocean Ventures, Bonnier Ventures and Lifeline Ventures, accompanied by a group of private investors. Partners have been carefully selected with an emphasis on long-term support, commitment to sustainability and expertise relevant to Sulapac's growth.
“It is with joy that we see that these international players recognize the potential of our innovation and support our mission to save the planet from plastic waste. The renewed support from the prestigious house of Chanel also indicates that sustainable development is a priority in the luxury market. As a truly sustainable alternative celebrating premium quality and design, Sulapac is the ideal solution for this segment, ” says Suvi Haimi, President of Sulapac.
Suvi Haimi, co-founder, welcomes the contribution of investors: “we want to make Sulapac the number one sustainable material that will be used as a replacement for plastic. Lifeline Ventures, who was also one of our early investors, has a solid track record of international growth. Chanel brings exceptional customer knowledge, while Sky Ocean Ventures and Bonnier Ventures, with their deep understanding of the international media landscape, can help us strengthen our brand recognition and grow our presence in international markets. "
Jamie Rowles, Head of Investments at Sky Ocean Ventures, adds: “As part of Sky's commitment to tackle plastic waste in our oceans, we are investing in Sulapac to support its plan to increase the potential of its material sustainable innovative without microplastics. "
In addition to new investors, Sulapac's growth will be supported by its new advisers, including Sophia Bendz, previously in charge of global marketing for Spotify and now a partner of venture capital firm Atomico, and Charli Kumar, who launched and runs Sky's TV start-up in Spain. Jukka Moisio, former CEO of global food packaging specialist Huhtamäki, recently took over the chairmanship of Sulapac's board.
“It is time for Sulapac to take a dominant position in the global market, and I am happy to contribute my experience. I am also delighted that the Sulapac team is supported by a group of advisers with exceptional expertise who will accelerate its development, ” says Moisio.