Nfinite Nanotech raises $6.5M to make plastic-replacement nanobarrier coatings

Nfinite Nanotech announced the completion of a $6.5 million SEED round of financing. The company is led by Collellar Good, with Suzano Ventures participating as a strategic investor. Other investors include FTW Ventures, MaRS IAF, Overlay Capital, Ponderosa and Republic Capital, including non-dilutive funding from Next Generation Manufacturing Canada. Nfinite Nanotech is a creator of plastic-alternative nanocoatings.

Nfinite Nanotech is solving the plastic packaging problem with its advanced material nanocoatings. It enables the use of truly sustainable packaging on a commercial scale. Nfinite’s nanocoating is an ultra-thin, high-performance barrier coating. It maintains the recyclability and compostability of sustainable packaging. It also maintains the freshness and shelf life of the product.

Chee Hau Teoh, CEO of Nfinite Nanotech said:"This funding will fuel our growth, allowing us to scale our operations, enhance our R&D capabilities, and solidify our market position as a pioneer in environmentally friendly packaging. We are committed to leveraging this opportunity to deepen our partnerships with our customers and continue to deliver solutions that meet the critical sustainability needs of today's world."

400 million tons of plastic waste are generated globally every year. The sustainable packaging market is expected to reach $737.6 billion by 2030. Consumer packaged goods (CPG) companies and packaging manufacturers around the world are working together to improve sustainability. Nano-coatings will minimize the environmental impact of packaging at the same time.

Michael Kleindl, managing partner at Collaborative Good, said:"Nfinite’s approach to sustainable packaging solves critical barrier issues that hinder the adoption of environmentally friendly materials. We have full confidence in the team at Nfinite as they continue to revolutionize the sustainable packaging industry with high-performance nanocoating solutions that make packaging sustainable and keep products fresh."

Paula Puzzi, Senior Manager at Suzano Ventures said,"As we look to expand the use of sustainable packaging, Nfinite’s coatings, proven in pilots, will play a meaningful role in helping CPG manufacturers and packaging producers minimize their environmental impact. As a company that has been in operation for over a hundred years, we provide more sustainable solutions to society, and we are proud to work with the Nfinite team to build a greener future through paper packaging."

Nfinite is actively working with some of the largest CPG companies and packaging manufacturers in the world. "As a global packaging leader, Amcor is proud to partner with and invest in Nfinite in the early stages of Amcor's Lift-Off program," said Frank Lehmann, vice president of corporate ventures and open innovation at Amcor. 

Hiroki Taenaka, Project Manager of Mitsubishi Corporation (Americas) Smart Life Creation Group said:"We are committed to creating a circular economy and we look forward to continuing to work with them to develop innovative ways to deliver more sustainable packaging solutions. “Working with Nfinite has been a rewarding experience and their commitment to success is evident in the results. We are excited to see how our partnership will continue to grow and drive innovation in the industry."