Collateral Good leads $6.5M Seed financing in Nfinite Nanotech – revolutionizing flexible food packaging with nanotechnology.
The provided funding will secure Nfinite’s pre-production phase and fuel further collaborations with industry-leading Consumer Packaged Goods companies and packaging companies to launch high-performance sustainable packaging solutions to the market.
Zurich, Switzerland – May 14, 2024 – Collateral Good leads the Series Seed in Nfinite Nanotech, a promising startup with a ground-breaking, patent-pending nanotechnology solution, enabling sustainable packaging by enhancing the barrier performance of compostable packaging and mono-materials, which are recyclable in the current infrastructure. Collateral Good leads the round and is accompanied by investments from Suzano Ventures, a strategic investor, MaRS IAF, Republic Capital, FTW Ventures, Overlay Capital, and Ponderosa.
Nfinite was founded in 2021 by Chee Hau Teoh (CEO & Co-founder), Jhi Yong Loke (CTO & Co-founder), and Dr. Kevin Musselman (Scientific Advisor & Co-founder) as a spin-off of the University of Waterloo, a leading technical university based in Waterloo, Canada. Nfinite’s breakthrough nanocoating technology is based on more than 10 years of science and experience in the development of advanced functional thin films and has quickly gained traction amongst global brands and packaging converters including Amcor and Mitsubishi Corporation (Americas), with which it has conducted multiple pilots.
Their value proposition lies in providing consumer product goods (CPG) and packaging manufacturers the ability to accelerate the production and adoption of cost-effective, compostable, and recyclable packaging while preserving the freshness and shelf life of products. By integrating their roll-to-roll process, they streamline the application of coatings, making sustainable packaging adoption more accessible and thus accelerating the world’s goal to eliminate plastic packaging pollution by 2030.
The provided funding will secure Nfinite’s pre-production phase and fuel further collaborations with industry-leading Consumer Packaged Goods companies and packaging companies to launch high-performance sustainable packaging solutions to the market.
Chee Hau Teoh, CEO of Nfinite Nanotech, said:
“This funding will catalyze our growth, enabling us to scale our operations, enhance our R&D capabilities, and solidify our market position as pioneers in eco-friendly packaging. We are committed to leveraging this opportunity to deepen our partnerships with our customers and continue delivering solutions that meet the urgent need for sustainability in our world today.”
Michael Kleindl, Managing Partner of Collateral Good, said:
“Nfinite Nanotech’s approach to sustainable packaging addresses the critical barrier problem that has hindered the adoption of eco-friendly materials. We have tremendous confidence in Nfinite’s team as it continues to revolutionize the sustainable packaging industry with high-performance nanocoating solutions that make packaging sustainable and keeps products fresh.”