Nfinite Nanotech Closes $6.5 Million Seed Financing to Create Flexible Food Packaging with Nanotechnology

WATERLOO, Ontario — Nfinite Nanotech, a creator of plastic-alternative nanocoatings, announced the completion of a $6.5 million seed round, led by Collateral Good, with participation from Suzano Ventures as a strategic investor alongside investment from FTW Ventures, MaRS IAF, Overlay Capital, Ponderosa and Republic Capital, including non-dilutive funding from Next Generation Manufacturing Canada.

Nfinite Nanotech is tackling the plastic packaging problem with its advanced material nanocoating that enables the use of sustainable packaging at a commercial scale, the company said. Nfinite's nanocoating is an ultrathin and high-performance barrier coating that maintains the recyclability and compostability of sustainable packaging while preserving the freshness and shelf life of products, according to the company.

"This funding will catalyze our growth, enabling us to scale our operations, enhance our R&D capabilities and solidify our market position as pioneers in eco-friendly packaging,” Chee Hau Teoh, CEO of Nfinite Nanotech, said. “We are committed to leveraging this opportunity to deepen our partnerships with our customers and continue delivering solutions that meet the urgent need for sustainability in our world today."

Over 400 million tons of plastic waste are generated every year globally. With the market for sustainable packaging expected to reach $737.6 billion by 2030, consumer packaged goods (CPG) companies and packaging manufacturers have united around a shared commitment to improve sustainability and minimize the environmental impact of packaging in the same timeframe.

"Nfinite's approach to sustainable packaging addresses the critical barrier problem that has hindered the adoption of eco-friendly materials,” Michael Kleindl, managing partner of Collateral Good, said. “We have tremendous confidence in Nfinite's team as it continues to revolutionize the sustainable packaging industry with high-performance nanocoating solutions that make packaging sustainable and keep products fresh."

Paula Puzzi, senior manager of Suzano Ventures, added, "We want to expand the use of sustainable packaging, and Nfinite's coatings are pilot-proven and set to play a meaningful role in enabling CPG manufacturers and packaging producers to minimize environmental impact. As a company that has been operating for over 100 years bringing more sustainable solutions to society, we are proud to partner with the Nfinite team in its journey to build a greener future through paper-based packaging."

Nfinite said it 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 have partnered with, and invested in, Nfinite early in their journey through our Amcor Lift-Off program,” Frank Lehmann, vice president corporate venturing and open innovation of Amcor, said. “Nfinite shares our commitment 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."

Hiroki Taenaka, project lead, Smart Life Creation Group, Mitsubishi Corporation (Americas), added, "Collaborating with Nfinite has been a rewarding experience, and its commitment to success is evident in the results. We are excited to see how our partnership will continue to evolve and drive innovation in the industry."