Sulapac reveals Chanel as new investor
Finland-based sustainable packaging developer Sulapac Oy has revealed that the French luxury brand Chanel SA has decided "to shoulder its development" becoming Sulapac's first investor 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.
Ranked among the 2018 top-100 hottest start-ups in Europe by Wired Magazine, Sulapac products use a biodegradable and microplastic-free material made of FSC-certified woodchips and natural binders. They have all the benefits of plastic, yet they biodegrade completely and leave no microplastics behind.
According to the company, replacing plastic with Sulapac is easy: manufacturers can use their existing machinery with the material, without the need to build new factories. The 100 percent 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 numerous international awards with its products that combine packaging with luxury, sustainability, and unlimited design possibilities.
We have set a 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. Chanel is definitely one of the forerunners in the luxury segment as they want to invest in the 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 & Co-Founder of Sulapac.
Sulapac has raised funding from several investors such as Business Finland, 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 (EU). A-round funding is planned for 2019.
Earlier this year the company signed a joint development agreement with global forest industry major Stora Enso as well as a cooperation agreement with the Finland-headed foodstuffs and confectionary major Fazer.