Sulapac welcomes Chanel as an investor

The French luxury house Chanel joins previous investors, including Lifeline Ventures, Ardent Venture, Eerik Paasikivi, Ilkka Herlin and Saara Kankaanrinta, Planvest, and Mika Ihamuotila, with its decision to support Sulapac’s ambition to provide a sustainable alternative to the use of conventional plastics in plastic products and packaging. The amount of the investment was not disclosed.
Sulapac products use a biodegradable and microplastic-free material made of FSC-certified wood chips and natural binders. They have all the benefits of plastic, yet they biodegrade completely and leave no microplastics behind.
Replacing plastic with Sulapac is easy: manufacturers can use their existing machinery with the material, without the need to build new factories. 100% biodegradable packaging outperforms other sustainable alternatives in terms of barrier properties, fast biodegradation and unique look. Since starting its journey in 2016, Sulapac has won a series of international awards with its products that combine luxury, sustainability and unlimited design possibilities.
The company is pleased with the support of Chanel, which it describes as a ‘leading brand representing the most demanding luxury segment’.
“Chanel is definitely one of the forerunners in the luxury segment as they want to invest on latest sustainable material and technology innovations. Our mission to save this world from the plastic waste just became a big step closer,” said Suvi Haimi, CEO and co-founder of Sulapac.
In July 2018, Sulapac also received the Horizon 2020 SME instrument grant from the European Union. Additional funding was provided by Business Finland, and A-round funding is planned for 2019.

http://www.sulapac.com