Seaweed Packaging Pioneer Notpla Secures £20 Million to Replace Single-Use Plastics in USA
Seaweed-based packaging startup Notpla announces it has completed a Series A+ round, securing £20 million (over $25 million) in equity fundraising, exceeding the company’s initial target. The new funds will be used to scale up manufacturing capabilities, broaden its plastic-free product range, and firmly establish a foothold in North American markets by driving a US expansion. The UB Forest Industry Green Growth Fund (UB FIGG) led the funding round. Key investors included Catalytic Capital for Climate & Health (C3H), Horizons Ventures and Astanor Ventures. New participants, including the Schmidt Family Foundation, Radicle Impact, EIT Food’s AgriFoodInvest, Broadwater Cap, Kibo Invest, Rosebrook, Trousdale Ventures, and Ocean Born Foundation, also backed Notpla’s expansion. David Walker, UB FIGG’s senior partner, said, “Notpla’s innovative approach to sustainable packaging, particularly …