Paptic
Assembly Line
Paptic Ltd raises EUR 23 million in financing to accelerate the development of packaging materials
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.
The growth financing will support the development of the company’s product portfolio, production partnerships, and the availability of Paptic materials globally. The financing will also accelerate the industrial scale-up of Paptic’s foam-based manufacturing technology. Furthermore, the investment in growth supports the company’s target for carbon neutrality by 2030.