SupplyCaddy raises US$3.2M to launch eucalyptus fiber F&B packaging
13 Apr 2023 --- SupplyCaddy has raised US$3.2 million in seed funding led by CEAS Investments. The global manufacturer and supplier of F&B packaging and disposables will use the funding to launch an environmentally sustainable line of eucalyptus fiber clamshells, plates and trays.
The funding allows the start-up to expand its resources and drive growth across innovative product development and global infrastructure.
With a global headquarters in Miami, US, and manufacturing facilities across North America and Europe, SupplyCaddy says it is able to provide high-quality, affordable products for restaurants, chains and food service brands globally.
“We have also made an investment into a bioplastics facility in Mexico which produces straws, cutlery, cups and bags made from upcycled marine waste oyster shells,” Bradley Saveth, co-founder, president and chief marketing officer at SupplyCaddy tells PackagingInsights.
Environmental benefits?
In the summer of last year, unprecedented heat waves swept across Europe, putting much of the continent on alert for droughts. Experts have warned that the paper packaging industry is inadvertently contributing to one of the most serious impacts of climate change: water loss.
Bradley Saveth, co-founder, president and chief marketing officer at SupplyCaddy.This problem is caused, in part, by the massive uptick in businesses replacing plastics with fiber-based materials in efforts to reduce reliance on fossil fuel-based resources and advertise their carbon emissions reductions.
When confronted with this issue, Saveth asserts that SupplyCaddy’s environmental sustainability goals are focused on removing as much plastic from quick service restaurants (QSR), fast casual, travel and retail sectors as possible.
“To do so, we are converting customers to paper and plant-based fiber packaging. With that, we are committing to replanting trees and ensuring our environmental footprint has a positive impact on climate change, which we take very seriously.”
“Our Eucalyptus line of products are 100% home compostable, FDA approved, heavy metal-free, toxin-free, aroma migration-free and PFAS-free,” adds Saveth.
An excess demand solution
SupplyCaddy was launched in 2020 by Stein and Bradley Saveth in response to the global supply chain crisis brought on by the COVID-19 pandemic. The company founder says that with the food service packaging market expected to reach US$148.25 billion by 2027 – and the global packaging market estimated to reach more than US$1.25 trillion by the same year – traditional US manufacturers have been unable to keep up with the growing demand, enabling increased market exposure for SupplyCaddy.
European sourcing and manufacturing coupled with the founders’ direct involvement with clients, allows for a more efficient process. The start-up says it has been able to attract some of the world’s largest corporations and publicly traded companies.
Over the past three years, SupplyCaddy delivered over 200 million products to clients globally, including Carl’s Jr., Hardee’s, Tijuana Flats, Cinnabon, Auntie Anne’s, Huey Magoo's, Hart House and Popeyes, one of the world's largest QSR chicken concepts with over 2,900 locations. The company doubled its growth from 2021 to 2022 and is on track to triple its revenue in 2023.
By Natalie Schwertheim
