Sulapac Ltd

Sulapac Oy, based in Finland, is a biomaterials company focused on creating sustainable alternatives to traditional plastics that minimize environmental impact while maintaining performance standards. Founded in 2016 in Helsinki, Finland, Sulapac Oy develops innovative biomaterials designed as eco-friendly substitutes for conventional plastics. The company has completed 5 funding deals, with the latest funding round occurring on April 27, 2023, where they raised EUR 15. 00 mn led by Chanel, along with investors such as Bonnier Capital, Lifeline Ventures, Mousse Partners, and Sky Ocean Ventures.

Suvi Haimi serves both as the CEO and the founder of the company. Sulapac specializes in developing innovative, sustainable materials that serve as eco-friendly alternatives to traditional plastics. Their primary product, Sulapac Flow, is a bio-based and biodegradable thermoforming material that performs like conventional plastics while significantly reducing carbon emissions and eliminating microplastic pollution. The materials cater to various applications, including packaging for cosmetics, supplements, reusable kitchenware, and single-use items.

Notable clients include CHANEL and Burger King, showcasing their presence in both upscale and mass-market sectors, with a focus on Europe and the United States. In the most recent fiscal year, 2022, Sulapac reported revenues of EUR 2,190,676. 60 with an EBITDA of EUR -5,774,489. 20.

The company’s revenue model revolves around partnerships with manufacturers that procure Sulapac's materials for their products, facilitating B2B transactions and addressing the demand for sustainable packaging solutions. In April 2023, Sulapac secured venture debt funding led by Nordic Environment Finance Corporation (NEFCO) to support its expansion into global markets and the construction of a small-scale manufacturing site in Finland. The company plans to launch new products designed for sustainable applications and is targeting specific markets for expansion, leveraging the recent funding to enhance its operational capabilities.