Xampla recently held a funding round which was dedicated to driving forwards the elimination of plastic. This round was worth $7 million US dollars and all the investments will be put towards the development and expansion of Xampla’s next-generation materials, such as Morro.
The main aim behind this effort will be to encourage big brands to begin their transition away from using single-use plastics and then to continue to encourage and support these brands, throughout their journey, in which Xampla hope they will turn to biodegradable, plant-based materials. These brands and businesses switching to the use of alternative materials, will not only be better for the environment, for the individual businesses and for the consumer, but will also help Xampla to grow and expand their business. The expansion of the UK company’s business and the aim for the wider use of their innovative material, is the primary reason why the investments made into the funding round will go into the efforts involved with advancing the production of Xampla’s biodegradable, plant-based materials. Giving the money raised to these materials will also be the case for the capital injection, which will be specifically invested into growing and developing the application of Morro, Xampla’s consumer brand. The aim with this development will be to aid Morro’s expansion into further and new markets.
Morro materials has been developed with the help of fifteen years’ worth of research from the University of Cambridge. The material is fully biodegradable, home compostable and food safe, whist simultaneously offering strong barriers against grease and oxygen. Alongside the overall picture, the core resin is also useful for manufacturing a range of products, such as sustainable packaging solutions, microcapsules and coatings.
All of these benefits depict why Morro is viewed as an excellent and innovative material. It is very clear that Morro is viewed in this way as the funding round highlighted both new and old investors who showed their support for the company.
Amadeus Capital Partners; Horizon Ventures; Cambridge Angels; Cambridge Enterprise; and Martlet Capital all showed their continued support to Xampla. CIECH Ventures, a company which is part of an international developing chemical group that employs more than three thousand people, who are also clean tech backers, were one of the many companies who became a new investor and supporter. Altogether, Xampla received a total investment of $17.6 million.
The first step towards expansion Xampla will be taking, will focus on their partnership with 2M Group of Companies and will work towards seeing Morro Coatings technology replace plastic-based coatings on takeaway packaging, sachets and cups. Xampla is also looking into other expansion opportunities and hopes to have future applications for more of its Morro products with more of their other partners. These collaborations will help Xampla achieve their goal of achieving operational efficiency by driving down the cost of sustainable materials, whilst simultaneously maintaining high quality standards.
CEO at Xampla, Alexandra French, commented, “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.”
CEO at CIECH Ventures, Szymon Smyk, added, “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.”