Chanel invests in Finnish sustainable packaging start-up Sulapac, which produces a trademarked biodegradable and microplastic-free material. Sulapac was listed among the top-100 hottest start-ups in Europe by Wired magazine.

WHO: Co-founders Suvi Haimi and Laura Kyllönen are biochemists specializing in biomaterials. Sulapac products use a biodegradable and microplastic-free material made of FSC-certified wood chips and natural binders. They have all the benefits of plastic, yet they biodegrade completely and leave no microplastics behind.

WHY: Environmental sustainability is a priority for Chanel, according to the company’s latest Report to Society.

IN THEIR OWN WORDS: “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,” says Suvi Haimi, CEO & co-founder of Sulapac. “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!”

DETAILS:

• Chanel invests in sustainable packaging start-up Sulapac.
• Sulapac has raised funding from several investors such as Lifeline Ventures, Ardent Venture, Eerik Paasikivi, Ilkka Herlin and Saara Kankaanrinta, Planvest, and Mika Ihamuotila.
• Previously Sulapac and pulp and paper manufacturer Stora Enso signed a joint agreement.
• In July 2018, Sulapac received the Horizon 2020 SME instrument grant from the European Union. Business Finland has also funded Sulapac.
• Series A round funding is planned for 2019.