TLDR: Cambridge-based materials company Xampla has secured €6.4 million ($7.7 million) in a funding round to expand production of its biodegradable, plant-based materials and help big brands move away from single-use plastics. Backers in the funding round include Amadeus Capital Partners, Cambridge Angels, Horizon Ventures, Cambridge Enterprise and Martlet Capital, as well as new investors CIECH Ventures. Xampla’s total investment to date is €20.6 million, and the new funding will be used to expand its consumer brand, Morro, into new markets.
The investment will also support Xampla’s partnership with the 2M Group of Companies to replace plastic-based coatings in takeaway packaging, sachets and cups. The company’s materials have already been used by brands including Britvic, ELEMIS and Gousto. Xampla is also exploring future applications of its materials, such as edible film and soluble film, which can fortify and stabilise vitamins and nutrients in food and drink.
The CEO of CIECH Ventures, one of the new investors, commented that Xampla’s innovative approach aligns with CIECH’s focus on clean tech solutions that address real-world problems and promote sustainable development.
