Cambridge University spin-out Xampla has closed a £6.2 million seed round, led by the backers of Zoom, to accelerate roll-out of its next generation plastic replacement. The fresh cash follows a £2m round announced in April 2020.
The company has bold plans to replace microplastics and single-use plastics with its entirely natural plant-protein alternatives.
Xampla is chaired by Jeff Seabright, former chief sustainability officer of global heavyweight Unilever, and is the first UK university spin-out to secure B Corp accreditation.
The new round was led by Horizons Ventures, the private investment arm of Li Ka-shing, 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 deeptech investor Amadeus Capital Partners, Cambridge Enterprise, and the impact investment fund Sky Ocean Ventures.
Bart Swanson of Horizons Ventures 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.”
Seabright added: “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.”