Funding Boost for Notpla: Raising £20 Million Series A Extension for US Growth and Distribution of 100 Million Plastic-Free Packaging Units
In a significant stride towards a greener future, London-based startup Notpla has secured £20M in its Series A extension, one of the largest rounds this year in the sustainable packaging sector. This funding round, led by United Bankers and featuring Temasek Trust's Catalytic Capital for Climate & Health (C3H), as well as existing investors Horizons Ventures and Astanor, brings Notpla's total funding to £35M.
Notpla's mission is to replace single-use plastic with eco-friendly alternatives, and this year, they have made impressive strides, replacing 16 million pieces of single-use plastic in 10 countries across Europe. Their packaging solutions, made from natural compounds extracted from seaweed and plants without chemical modifications, are 100% recyclable, industrially compostable, and home-compostable, breaking down in four to six weeks.
The EU is set to ban all single-use plastic by the end of the decade, aligning with Notpla's vision. Notpla's seaweed packaging has already made history, becoming the first material to be recognized as plastic-free under the EU's Single-Use Plastics Directive. This recognition has led to its use at high-profile events such as UEFA Champions League matches and 50 stadiums across the UK, including Aston Villa and Tottenham Hotspur.
The funds raised will be used to expand Notpla's operations to the US, expand its product portfolio, and scale up manufacturing. Notpla is not limiting its innovation to packaging; they are developing biodegradable disposable cutlery, laundry sachets, energy gel pods, and sachets for herbs, seasonings, and bath oils.
The sustainable packaging sector in Europe saw an all-time high last year, with startups raising $221M. The Dutch government has also imposed a 25-cent levy on food delivery and takeaway packaging, encouraging businesses to adopt eco-friendly alternatives.
On a global scale, the US has indicated its support for the UN's global plastics treaty to impose limits on plastic production. Notpla's innovations could play a crucial role in this global effort, as they offer a viable alternative to conventional containers and bioplastic alternatives that contain petrol-based coatings, which release harmful toxins.
Investors in this round include Emerald Technology Ventures, BGF, Matterwave Ventures, Amadeus Capital Partners, and Horizons Ventures, alongside EIT Food's AgriFoodInvest, the Schmidt Family Foundation, Kibo Invest, Radicle Impact, and Ocean Born Foundation.
Notpla's flagship product is Ooho, an edible packaging solution for liquids and gels. By 2026, Notpla aims to sell 100 million units of its seaweed-based packaging products. This ambitious goal, if achieved, could significantly reduce the amount of single-use plastic in circulation, moving us one step closer to a sustainable future.
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