Sulapac, a Finnish start-up, gains CHANEL as an investor
Sulapac, a Finnish company listed among the top-100 hottest start-ups in Europe by Wired Magazine, has announced that the French luxury house CHANEL has decided to shoulder its development, thus becoming its first investor coming from the cosmetic industry. Aiming to tackle the accumulation of non-biodegradable plastics, Sulapac has developed an innovative material which responds to consumers’ growing desire to find environmentally friendly products or packaging.
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 many international awards* with its products that combine luxury, sustainability and unlimited design possibilities.
” We have set very high-quality standard to our sustainable material, with an ambition to replace plastic, and we are very pleased to welcome Chanel, a leading brand representing the most demanding luxury segment, among our investors”, says Suvi Haimi, CEO & Co-Founder of Sulapac. “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!”
Sulapac has raised funding from several investors such as Lifeline Ventures, Ardent Venture, Eerik Paasikivi, Ilkka Herlin and Saara Kankaanrinta, Planvest, and Mika Ihamuotila. In July 2018, Sulapac received the Horizon 2020 SME instrument grant from the European Union. Business Finland has also funded Sulapac. A-round funding is planned for 2019.
* List of awards
- The best green packaging solution at the LUXE PACK in Green Awards in Monaco 2017
- Sustainable Beauty Awards, Winner of Sustainable Packaging category in Paris 2017
- Global Cleantech Cluster Association (GCCA) Later Stage Award 2017 Top 10 winners
- Green Alley Award 2018
- Baltic Sea Project, 2nd prize 2018
- Scanstar Packaging Competition Winner 2018
- Top-100 Hottest Startups in Europe by Wired UK 2018
- Best startup of Uusimaa region, Finland 2018