Member Investor: Dalus Capital
Industry-Sector: Cleantech, Smart Reusable Packaging
Roughly 400 million tons of plastic waste are produced globally every year. Approximately 36% of those plastics are used in packaging, of which 85% end up in landfills or as unregulated waste. Growing environmental concerns have led to shifting public policies and consumer habits, motivating CPGs to look for more sustainable packaging alternatives. However, eco-friendly packaging has traditionally been difficult to implement at scale, as it often incurs higher costs that are passed on to consumers and is therefore unaffordable for lower-income segments of the population.
Dalus Capital led a USD9m Series A funding round for Algramo in May 2021 with participation from Angel Ventures, FEMSA Ventures, Volta Ventures, ImpactAssets, Century Oak Capital, Solve Innovation Future, University Venture Fund and Closed Loop Partners. The company stood out to Dalus because of its growth potential and alignment with three out of four of Dalus’ main investment themes: inclusion, climate innovation and business productivity.
ESG IN FOCUS
Algramo’s environmental impact is baked into its business model. The company’s circular platform reduces plastic waste while also making consumer goods more affordable by passing packaging and storage cost savings to consumers. As of June 2022, Algramo has avoided the emission of 225 tons of CO2 and saved 2.5 million liters of water through the reuse of over 691,000 packaging items. These products are estimated to have replaced roughly 88 million tons of plastic that will not pollute the environment…. download the full case study to read more.