ImpactAlpha, August 11 – Finnish company Innomost uses materials from sustainable forestry and timber operations to replace fossil fuels, plastics and palm oil in consumer products like cosmetics. Innomost’s focus is on Nordic birch bark, which can be used as a substitute for microplastics in skincare and haircare products.
Its €5 million ($5.86 million) round was backed by MestaSpring, a Finnish sustainable forestry and circular economy investor, and early-stage Nordic VC fund Innovestor. The government’s Business Finland, provided grant and debt-financing.
