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Nexpoint Capital Inc. Announces $2M Investment In Early Growth Funding Round For Bioplastic Manufacturing Company Plantswitch

Nov 28, 2023about 2 years ago

Amount Raised

$2 Million

Round Type

seed

SanfordEnvironmental Consulting

Investors

Nex Point

Description

NexPoint, a multi-billion-dollar alternative investment firm, today announced its investment of $2M in the early growth funding round of PlantSwitch (the "Company"), a bioplastics manufacturing company with a carbon negative production process that upcycles agricultural waste to produce biodegradable and compostable resins for single-use products. The investment is part of a total $7.7M raise in this early fundraise round, to which other institutional investors, along with NexPoint, subscribed.

Company Information

Company

PlantSwitch

Location

Sanford, North Carolina, United States

About

PlantSwitch’s mission is to replace all petroleum-based plastic with plants. Our proprietary technology upcycles agricultural residues into a plant-based resin that can be used to make nearly all types of plastic products. A low-cost, zero-waste, drop-in replacement to plastic is finally here.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers