Technological watch
Paptic Ltd, a sustainable packaging materials innovator, raises EUR 23 million in financing to accelerate the development of packaging materials and scale up its ability to serve global customers
Paptic Ltd, a growth company manufacturing wood fibre-based packaging materials, has announced the raising of EUR 23 million in growth financing. The company’s shareholder base was expanded with new strategic partners and international equity investors: a German venture capital fund European Circular Bioeconomy Fund (ECBF) and a global water and hygiene solutions company Ecolab. Also, some of the company’s earlier shareholders, such as Japanese trade house Itochu Fibre Ltd., participated in this financing round. Besides the above-mentioned equity investments, Paptic was granted EUR 2.5 million by the European Innovation Council’s Accelerator program.
Paptic has also received a non-dilutive capital loan of EUR 10 million from the Finnish Climate Fund. This loan is specifically targeted at facilitating the development of the industrial scale-up of Paptic’s foam-based manufacturing technology.
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Paptic has also received a non-dilutive capital loan of EUR 10 million from the Finnish Climate Fund. This loan is specifically targeted at facilitating the development of the industrial scale-up of Paptic’s foam-based manufacturing technology.
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Learn more
Load video
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This project has received funding from the Bio Based Industries Joint Undertaking under the European Union’s Horizon 2020 research and innovation programme under grant agreement No 837761.
