Paptic Ltd raises EUR 23 million in growth financing

Paptic Ltd, a growth company manufacturing wood fibrebased packaging materials, has announced the raising of EUR 23 million in growth financing. The companys shareholder base was expanded with new strategic partners and international equity investors: a German venture capital fund European Circular Bioeconomy Fund (ECBF) and a global water and hygiene solutions company Ecolab. Also, some of the companys earlier shareholders, such as Japanese trade house Itochu Fibre Ltd. , participated in this financing round. Besides the abovementioned equity investments, Paptic was granted EUR 2. 5 million by the European Innovation Councils Accelerator program. Paptic has also received a nondilutive capital loan of EUR 10 million from the Finnish Climate Fund. This loan is specifically targeted at facilitating the development of the industrial scaleup of Paptic s foambased manufacturing technology. Learn more: