Helsinki-based Sulapac raises €15 million to become the number one sustainable material replacing plastic

Sulapac team

Finnish startup Sulapac has raised €15 million to boost its plans to scale up and internationalise. Investors include the world’s leading luxury house Chanel and international media houses, all with valuable expertise to accelerate Sulapac’s expansion. 

The investment round will enable Sulapac, the startup replacing plastic with its microplastic-free material innovation, to scale-up its material production and continue the development of new and improved formulas, including a flexible version of its Universal Material for Injection Molding. To this day, one of Sulapac’s groundbreaking innovations is the world’s most sustainable mass-producible straw that is now available for brands and consumers.

The funding comes from Chanel, Mousse Partners, Sky Ocean Ventures, Bonnier Ventures, and Lifeline Ventures, accompanied with a group of private investors. The partners were carefully chosen with the emphasis on long-term support, commitment to sustainability, and expertise relevant to Sulapac’s growth.

Haimi is pleased with the investors’ input: “We want to make Sulapac the number one sustainable material replacing plastic. Lifeline Ventures, who was also one of our seed funders, has strong experience in building international growth stories. Chanel brings exceptional customer insight while Sky Ocean Ventures and Bonnier Ventures with their comprehensive understanding of the international media landscape can support us in building our brand recognition and help expand to the international markets.”

Jamie Rowles, Head of Investments at Sky Ocean Ventures adds: “As part of Sky’s commitment to tackle plastics in our oceans, we are investing in Sulapac to support its plan to scale up the potential of its sustainable, microplastic-free material innovation.”

Besides new investors, Sulapac’s growth will be supported by its newly appointed advisors, including Sophia Bendz, who was previously in charge of Spotify’s global marketing and is now a partner at venture capital firm Atomico, and Charli Kumar, who launched and leads Sky’s start-up TV business in Spain. Jukka Moisio, former CEO of the global food packaging specialist Huhtamäki, recently started as the Chair of Sulapac’s board of directors.