The investment follows on from a £2m ($2.7m) round announced by Xampla, which is looking to develop the next generation of plastics, in April last year
Xampla is a University of Cambridge spin-out company (Credit: Pixabay)
Xampla has announced it has closed a £6.2m ($8.4m) seed investment round to accelerate the roll-out of its next-generation plastics replacement.
The investment follows on from a £2m ($2.7m) round announced by the University of Cambridge spin-out in April last year.
The company has ambitious plans to replace microplastics and single-use plastics with its entirely natural plant-protein alternatives.
Xampla is chaired by Jeff Seabright, the former chief sustainability officer of Unilever, and is the first UK university spin-out to secure B Corp accreditation.
Seabright said: “The Xampla team had a great first year, with excellent technical and commercial progress.
“We look forward to working with Horizons and our other investors to continue to build Xampla and deliver its significant commercial potential by addressing one of today’s most pressing problems – plastic pollution.”
New investment for next-generation plastics company Xampla financed by Zoom investors
The finance round was led by Horizons Ventures, which is a leading investor in some of the world’s most innovative companies and disruptive technologies including Facebook, Zoom, Waze, Spotify, Siri, DeepMind, Improbable, and Impossible Foods.
Xampla is also backed by deep tech investor Amadeus Capital Partners, Cambridge Enterprise, and the impact investment fund Sky Ocean Ventures.
Horizons Ventures advisor Bart Swanson said: “We invest in highly innovative companies in Asia, Europe and the US with the potential to disrupt on a global scale.
“Xampla’s excellent core science and strong commercial advantages set it apart in the race for a replacement to plastic, and we look forward to working with the team to build the business over the coming years.”
Amadeus Capital Partners partner Amelia Armour added “Plastic pollution is a global problem which has a viable solution in Xampla’s plant-protein alternative.
“It has been exciting to help Xampla gain traction and we welcome Horizons Ventures as an investor who shares Amadeus’ vision for this great company.”