Xampla raises US$17.6 from cleantech investors to drive down bio-based coatings costs
31 Jan 2024 --- Xampla has raised a total of US$17.6 million in funding to advance the production of its plant-based materials, following a recent financing round including new investors, including clean tech backers CIECH Ventures, part of an international developing chemical group employing over 3,000 people.
Existing backers Amadeus Capital Partners, Horizon Ventures, Cambridge Angels, Cambridge Enterprise and Martlet Capital also contributed further financing.
“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,” says Alexandra French, CEO at Xampla.
“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 toward a future where natural materials thrive, and traditional plastics become a thing of the past.”
Building the Morro brand
The money will be strategically allocated to expanding the applications of Xampla’s consumer brand, Morro, into new markets.
Developed by 15 years of research at the University of Cambridge, UK, Morro materials are fully biodegradable, 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, says the company.
Driving down costs
Brands using Xampla materials already include Britvic, British skin care expert ELEMIS, and meal-kit retailer Gousto. Xampla says it will continue exploring future applications for the Morro Edible Film and Morro Soluble Film. Morro Nutri will enhance the fortification and stability of vitamins and nutrients found in F&B.
In collaboration with key partners, Xampla will also optimize operational efficiency by driving down the cost of environmentally sustainable materials while upholding high-quality standards.
Szymon Smyk, CEO at CIECH Ventures, says: “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 particularly interesting to us.
“We are excited to support the development of Morro materials, which are both impressive and necessary in today’s world.”
Edited by Louis Gore-Langton
