Xampla’s $7m fundraise boosts Morro’s goal to replace plastics
New-generation materials company Xampla’s $7million fundraise will boost the production of its biodegradable plant materials brand Morro, a plastic replacement which is expanding into new markets.
Xampla is the UK’s first Cambridge University spin-out to be awarded B Corp status, which combines profit with high standards of social and environmental performance, transparency, and accountability.
As well as creating products to make single-use plastics a thing of the past – finally – Xampla “is committed to continuously improving sustainability across every aspect of our business to balance purpose with profit,” CTO Marc Rodriguez Garcia says.
Formed in 2018, Xampla’s technology and its Morro materials range are the product of more than 15 years of protein research led by Prof Tuomas Knowles, professor of physical chemistry and biophysics at the University of Cambridge and a global leader in protein biophysics.
Xampla’s total investment to date stands at $17.6m, with existing backers Amadeus Capital Partners, Horizon Ventures, Cambridge Angels, Cambridge Enterprise, and Martlet Capital all giving further backing.
New investors include clean tech backers CIECH Ventures, part of an international developing chemical group employing over 3,000 people.
The investment will ensure Morro becomes further embedded into different sectors – Morro materials are already trusted by brands such as global drinks retailer, Britvic, British skincare experts, ELEMIS, and meal-kit retailers, Gousto.
Morro materials are fully biodegradable and home compostable, and food safe, offering high-strength, grease and oxygen barrier properties. The core resin can be used to create a range of products, including sustainable packaging solutions, microcapsules and coatings.
Xampla will now optimise operational efficiency by driving down the cost of sustainable materials, while upholding high quality standards.
Building on the company’s recent partnership with the 2M Group of Companies, the investment also helps expand the applications of Morro Coating to see the technology replace plastic-based coatings in takeaway packaging, sachets and cups.
Xampla is also exploring future applications of Morro Edible Film and Morro Soluble Film.
An expansion of Morro Nutri will enhance the fortification and stability of vitamins and nutrients found in food and drink.
Alexandra French, CEO at Xampla, said: “This investment is a testament to the shared commitment of our backers, who can see that Xampla products are the gateway to a new era in materials sustainability.
“This new funding will support the expansion of our Morro material into new territories and new applications and enable us to make a big impact.
“We are determined to lead the way towards a future where natural materials thrive, and traditional plastics become a thing of the past.”
Szymon Smyk, CEO at CIECH Ventures, said: “Xampla’s innovative approach and impact on the industry align deeply with the values of CIECH Ventures.
“Cleantech solutions are capable of addressing real-world problems, such as plastic pollution, and promoting sustainable development are of particular interest to us.
“We are excited to support the development of Morro materials, which are both impressive and necessary in today’s world.”
