Creapaper successfully completes Series A financing round
Creapaper GmbH, the inventor of grass paper and provider of grass paper products, has successfully completed the Series A financing round. As new investors Creapaper welcomed four family office investors based in Germany, among others from the paper industry and the consumer goods sector.
Creapaper uses a patented process to produce the grass fibre raw material required for grass paper, which generates 75 percent less CO2 than conventional wood pulp and reduces water consumption in production by up to 95 percent. The company is already developing and marketing the first CO2-saving grass paper packaging and plastic replacement products in both the food and non-food sectors. The first customers include REWE Group, ALDI and DUNI from Sweden.
Creapaper has received several awards for its innovative and sustainable developments and products, including the Start Green Award 2016, the KfW Award Gründen 2017, the IKU Innovation Award Climate and Environment 2018, the Top 100 Europe Award and the Red Herring Award North America in June 2019.
"We are very pleased with the confidence placed in us, both by our new investors and by our existing lead investor eCAPITAL. This financing round will enable us to drive our growth in Germany by placing additional key CO2-reducing products in the retail sector and with international brands and preparing for our international expansion," said Michael Schatzschneider, CFO of Creapaper.
"The successful completion of Series A is another important milestone in the development of Creapaper. We are convinced that reducing CO2 emissions and avoiding further plastic waste with Creapaper grass paper products will have a global reach and lead to measurable results," says Willi Mannheims, Managing Partner at eCAPITAL entrepreneurial Partners.
Löhestrasse 53, 53773 Hennef, Deutschland
Creapaper GmbH, based in Hennef, Germany, uses a patented process to produce an alternative raw material for the paper and packaging industry that can be used in paper production instead of cellulose made from fresh fibres (wood) or waste paper. Already now, up to 50 % of conventional wood and waste paper fibres can be replaced and significant savings in CO2 emissions and water consumption can be achieved with Creapaper grass paper products.
Creapaper has already received several awards for its innovative and sustainable development of the new grass fibre fabric, including the Start Green Award 2016, the KfW Award Gründen 2017, the IKU Innovation Award Climate and Environment 2018, the Top 100 Europe Award and the Red Herring Award North America in June 2019.
eCAPITAL AG, based in Münster, is a capital management company for alternative investment funds (AIF) in accordance with the EuVECA regulation. The company is one of the leading venture capital investors in Germany and has been actively supporting innovative entrepreneurs in promising sectors since 1999. The focus is on fast-growing companies in the software/IT, industry 4.0, cleantech and new materials segments. eCAPITAL currently manages funds with a subscription capital of over 220 million euros.
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