Next-generation materials company Xampla has successfully completed a funding round raising €6.4 million. The investment will be deployed to advance production of the UK company’s biodegradable, plant-based materials, supporting big brands to move away from single-use plastic.
The funding round demonstrated significant investor confidence in Xampla, with existing backers Amadeus Capital Partners, Horizon Ventures, Cambridge Angels, Cambridge Enterprise, and Martlet Capital all giving further backing. New investors include clean tech backers CIECH Ventures, part of an international developing chemical group employing over 3,000 people. Xampla’s total investment to date stands at €20.6 million.
Alexandra French, CEO at Xampla, said: “This 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. This new funding will support the expansion of our Morro material into new territories and new applications and enable us to make a big impact. We are determined to lead the way towards a future where natural materials thrive, and traditional plastics become a thing of the past.”
The recent capital injection will be strategically allocated to expanding the applications of Xampla’s 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’s 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.
With its technology already trusted by brands such as global drinks retailer, Britvic; British skincare experts, ELEMIS; and meal-kit retailers, Gousto; Xampla will explore future applications of Morro Edible Film and Morro Soluble Film. An expansion of Morro Nutri will enhance the fortification and stability of vitamins and nutrients found in food and drink. In collaboration with key partners, Xampla will also optimise operational efficiency by driving down the cost of sustainable materials, while upholding high quality standards.
Szymon Smyk, CEO at CIECH Ventures said: “Xampla’s 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. We are excited to support the development of Morro materials, which are both impressive and necessary in today’s world.”
Read the orginal article: https://www.eu-startups.com/2024/01/cambridge-based-xampla-gets-e6-4-million-to-make-plastic-elimination-enter-a-new-era-of-sustainability/
