Estonia

[Funding alert] Estonian-based Woola Raises €2.5M in Funding

Dec 14, 2023 | By Startup Rise EU

Woola, an Estonian startup, raises €2.5 million. Instead of using plastic packaging, the company makes protective wool packing. Every year, 141 million tonnes of plastic packaging are produced; only 14% of this is gathered for recycling, and even less of that is recycled.

Woola, an Estonian startup, raises €2.5 million. Instead of using plastic packaging, the company makes protective wool packing. Every year, 141 million tonnes of plastic packaging are produced; only 14% of this is gathered for recycling, and even less of that is recycled.

Read also - Swiss Startup PLAN-B NET ZERO Secures €9.2 Million in Series A Round Funding

Leading the fundraising is Metaplanet, with new angel investors joining them, as well as Woola's 2021 investors Future Ventures and Lemonade Stand. Additionally, as sheep wool is too coarse for the textile industry, up to 90% of it is burned or buried in European nations, resulting in 200,000 tonnes of wasted wool yearly.

Woola's CEO and co-founder Anna-Liisa Palatu shared: "We founded Woola to help stop the use of fossil fuels. Two Houses of the LVMH Group are already using Woola packaging to replace plastic, and we are implementing a circular pilot program with one of them.We are proud to be working with a Group that, with its Maisons, is reinventing the packaging codes to ban fossil-based plastics ultimately."

"Beauty often lies in simplicity," said Metaplanet's Managing partner Rauno Miljand. "Woola is rescuing a natural resource – sheep wool – from ending up in landfills and using it to help retailers reach their sustainability targets. This is done via a product innovation cycle and a quick feedback loop with the customers."

RECOMMENDED FOR YOU

recomd
France
[Funding alert] French-based Climate Food Tech Le Fourgon Secures €10 Million in Series A Round Funding
Startup Rise EU
Nov 15, 2023
recomd
Recent Articles
[Funding alert] Rockstart Launches Second AgriFood Fund to Double down on Early stage Impactful Ag & Food Tech Startups
Startuprise
Dec 6, 2023
recomd
Funding
Caeli Wind funding news – Berlin-based Caeli Wind Secures €11 Million in Series A Round Funding
Startup Rise EU
May 16, 2024

Woola plans to use the additional funding to broaden its product range for the luxury and e-commerce industries as well as to bolster its sales and marketing team.

Read also - Belgian Sports Tech Startup Raw Stadia Secures €1.5 Million in Funding

About Woola

Since its founding in 2020, WoolaÄs has concentrated on displacing bubble wrap in online sales. The business is currently extending its product line to include premium goods.

Read also - Zurich-based Climate Tech Metafuels Secures €7.4 Million in Funding

Recommended Stories for You

story
Recent Articles

[Funding alert] Switzerland-based Spiden Secures $15Million in Additional Funding

Startup Rise EU Feb 1, 2024

story
Funding

[Funding alert] Berlin-based Milano Vice Secures €8.3 Million in Series A Round Funding

Startup Rise EU Dec 8, 2023

story
Funding

[Funding alert] Copenhagen-based Logistics Startup Portchain Secures $5Million in Funding

Team SR Feb 13, 2024

story
Funding

[Funding alert] Reykjavik-based DTE Secures €16 Million in Funding

Startup Rise EU Dec 22, 2023

story
Denmark

[Funding alert] Copenhagen-based Energy Tech Reel Raises €5 Million in Funding

Startup Rise EU Jan 22, 2024

story
Funding

[Funding alert] Switzerland-based Medical Device Company Aesyra Secures $3m in Seed Funding

Startup Rise EU Dec 14, 2023