Circular economy startup CauliBox secure seed funding in a round led by SFC Capital
Investors in this round: SFC Capital, angel investors
Circular economy business ‘CauliBox’, who are the UK’s first tech-enabled reusable container scheme has secured £250,000 in a seed funding round led by SFC Capital, with Angel investors. CauliBox provides award-winning, digitally-enabled reusable solutions to disrupt the disposable food packaging market, an industry worth £45 billion a year globally. For its endeavours, CauliBox has been named in the FoodTech 500 and co-founder Josephine Liang was recently named in the Forbes 30 Under 30 Europe 2021 – ‘Social Impact’ category.
CauliBox has already been trialled at a number of London food markets, and they have partnerships with brands and organisations such as: Westminster City Council, Veolia and London School of Economics. Within CauliBox’s circular economy the loop system is as follows: the packaging is used, collected or dropped off, washed, and repeatedly re-used at least 400 times, users of the app earn ‘CauliCoins for their efforts which rewards the user with gifts like exhibition tickets. The CauliBox system has helped UK businesses to reduce their carbon emissions in the UK since the business’s inception in 2019, reducing an impressive 237.5g of carbon emissions per use.
Josephine Liang, Co-Founder at CauliBox, says “CauliBox is excited about working with SFC Capital to further our mission to eliminate single-use packaging waste in the food-to-go industry. We will be working with our catering partners to focus on improving our tracking technology and refining the user experience to ensure the circularity of our reuse scheme while helping our users to switch to more sustainable practices without hassle.”
Adam Beveridge, SFC Capital Investment Associate: “Never has there been a more important time to take stock and create change in our approach to single-use plastics. The pandemic saw eating habits shift dramatically, driving even more waste into landfill, despite both consumer and government calls for zero avoidable plastics and waste. CauliBox has already demonstrated it can provide a more cost-effective, sustainable option for the takeaway and “on the go” food sector through a tech-enabled circular reuse system and a fully recyclable packaging alternative. It’s great to see both public and private sector companies like the NHS and Veolia use CauliBox and support their mission. It’s one we should all back, and SFC Capital are excited to be one of the first to do so.”
SFC Capital – recognised as the UK’s most active VC and early-stage funder – has an ongoing commitment to sustainability and impact investing, which has always been an integral part of its investment due diligence process.