Vericool, a Livermore, Calif.-based startup that’s replacing plastic coolers and packaging with plant-based products, has raised $19.1 million in a new round of financing.
The company’s stated goal is to replace traditional packaging materials like polystyrene with plant-based insulating packaging materials.
Its technology uses 100% recycled paper fibers and other plant-based materials, according to the company, and are curbside recyclable and compostable.
Investors in the round include Radicle Impact Partners, The Ecosystem Integrity Fund, ID8 Investments and AiiM Partners, according to a statement.
“We’re pleased to support Vericool because of the company’s track record of innovation, high-performance products, well-established patent portfolio and focus on environmental resilience. We are inspired by the company’s social justice commitment to address recidivism and provide workplace opportunity to formerly incarcerated individuals,” said Dan Skaff, managing partner of Radicle Impact Partners and Vericool’s new lead director.
Written by Jonathan Shieber
This news first appeared on https://techcrunch.com/2020/03/31/vericool-raises-19-1-million-for-its-plant-based-packaging-replacement-for-plastic-coolers/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29 under the title “Vericool raises $19.1 million for its plant-based packaging replacement for plastic coolers”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
