Ecologic Brands, a US-based manufacturer of recycled products, has raised $7m in a funding round that included a strategic investment by Canada-based pulp and paper manufacturer Kruger.
Participation in the round included venture capital firms DBL Investors and Catamount, private equity firm Black Bear Partners and current angel investors.
The complimentary partnership between mass paper producer Kruger’s technology and Ecologic Brands’ moulded fibre technology will enhance Ecologic Brands’ manufacturing capabilities. Kruger will also become the sole licensee and manufacturer of Ecologic Brands paper bottles in Canada.
Michael Lafave, senior vice president of containerboard, packaging and recycling at Kruger, said: “We are especially excited to bring the Ecologic paper bottle technology to our customers in the Canadian market as an additional offering to complement our corrugated packaging solutions.”