This week, Berlin-based digital packaging marketplace Packmatic raised €15 million Series A round.
Packmatic has built a fully digital one-stop shop, connecting businesses to the largest supplier network in Europe, a vast network of over 300 packaging suppliers across Europe in just a few clicks, and opening the door to an extensive range of lower plastic and lower carbon alternatives at the right price.
The company aims to bring more transparency and efficiency to the 160 billion packaging market. Over 100 customers (traditional SMEs and fast-growing digital companies) use Packmatic to achieve savings potentials of 16 percent on average and to optimize their packaging according to current sustainability standards.
EQT Ventures led the funding with participation from HV Capital, xDeck, and several high-profile angel investors.
According to Rania Belkahia, Partner at EQT Ventures.
“The European packaging market boasts an impressive valuation but remains opaque, fragmented, and crucially, largely non-digital.
Packmatic’s platform provides a unique solution – a cost-effective, fully digital marketplace championing the shift to low-carbon packaging.”
This fresh funding will support Packmatic’s continued expansion into Europe, investment in key software, and team growth.
Lead image: Mediamodifier.