Paptic Ltd raises EUR 23 million in financing to accelerate the development of packaging materials and scale up its ability to serve global customers

The growth financing will support the development of the company’s product portfolio, production partnerships, and the availability of Paptic materials globally. The financing will also accelerate the industrial scale-up of Paptic’s foam-based manufacturing technology. Furthermore, the investment in growth supports the company’s target for carbon neutrality by 2030.

“Our rapid progress from a startup to a high-growth company, with Paptic materials in use by over 100 customers globally, has made us an appealing investment opportunity and we are delighted to welcome our new international investors to join us. A cornerstone of our operation is to work in accordance with the principles of circular economy, to this end, we support our customers to replace plastics in various flexible packaging applications”, says Tuomas Mustonen, CEO and co-founder of Paptic Ltd. “Expanding our global shareholder base was one of the targets of this round, and I am very satisfied with the outcome.”