The Swedish company Yangi has raised 10 million euros in an oversubscribed Series A round. Led by Industrifonden and supported by global industry partners and Almi Invest GreenTech, the capital is intended to drive forward the industrialisation of the Cellera fibre packaging technology.
Yangi focuses on the dry conversion of paper fibres and is positioning its Cellera platform as an industrially available alternative to fossil-based plastics. According to the company, the technology is ready for the market: the first machine has already been sold to a European converter, and products with Yangi fibres will be shipped to Asia at the end of 2024. Founder Anna Altner describes the funding as „a strong signal for a plastic-free future“.
Industrifonden as lead investor
Industrifonden says it has experience in developing transformative industrial technologies. Investment Director Anna Haupt explained that dry forming uses paper fibres „extremely efficiently“ and has the potential to compete with plastic in terms of unit price - a prerequisite for the transformation of the packaging industry.
Almi Invest GreenTech also sees Yangi as a future key player in the global transition to fibre packaging. Investment manager Erik Madeyski Bengtson emphasised that the combination of technological maturity and scalable business model makes the solution a realistic one for packaging manufacturers.
Focus on industrialisation
Based in Varberg, Sweden, Yangi intends to use the fresh capital to transfer the dry-forming technology to an industrial scale. In addition to the new investors, Voith, Chanel, FutureLab & Partners and Turret Oy are also among the shareholders.
Source: Yangi
