The Richmond, Va., startup produces insulated, recyclable packaging products used by more than 40 companies, including in the booming meal-kit and food delivery categories.
Durham-based SJF Ventures led the $10 million round and was joined by Interplay Ventures, Third Prime Capital and Dolik Ventures.
The company is “purpose-built to compete effectively against the existing, uninspiring insulation solutions,” says SJF Ventures’ Cody Nystrom, who will join the board.
The company has recycled more than five million pounds of plant fiber, and expects to divert more than 10 million pounds of material from landfills.
