In its recently completed funding round, Welmu International Oy raised a record-breaking €2 million of growth financing. The company will also change its name to match their product brand, Woodly. The goal is to get the new type of wood-based packaging on the store shelves this year. – The funding means that the company can now start to realize the potential we have built over the past year, says Jaakko Kaminen, CEO of Woodly.
Woodly is a new type of wood-based material from which transparent and flexible packaging can be made. Woodly mimics the best qualities of traditional plastics.
Investors both from Finland and abroad were attracted by the innovation. The largest new investments were made by Joensuun Kauppa ja Kone Oy led by the entrepreneur Kyösti Kakkonen, Copacking Oy and Eski B.V which are led by packaging industry experts Mark and Cornelis Bruggeman. Solution agency Seedi Oy and Besodos Investors Oy which are among the company’s current shareholders also made new investments in the funding round.
– Woodly is a present-day product. It supports mankind’s withdrawal from throw-away society and helps fight the dependency on fossil-based raw materials. Our packaging material has attracted interest among brands both in Finland and worldwide, continues Jaakko Kaminen.
In 2018 Woodly won the New Wood competition where solutions were sought to meet the standards of global sustainable development and incorporate an innovative use of wood.
– When looking for eco-friendly options for packaging materials, we want to harness the full potential of forests. Forests act as carbon sinks and well managed forests are an important renewable natural resource, states Marko Parkkinen, CEO of solution agency Seedi Oy and Woodly’s chairman of the board.
The product development of Woodly is still on-going, but cooperation with brands has already started. For example, Woodly’s co-operation with Järvikylä, a producer of potted salads and herbs, was published last year. Replacing the plastic packaging of products with Woodly has been practiced also with other brands.
– We have on-going collaboration with other brands as well, and we will communicate about them soon, hints Kaminen.
Further information:
Jaakko Kaminen
jaakko.kaminen@woodly.com
CEO Woodly Oy
+358 (0)40 590 0035
Woodly Oy is a Finnish tech company founded in 2011. The company’s mission is to accelerate the shift towards a more ecologically sustainable future. The Woodly packaging material is a see-through solution made from soft-wood pulp and it can be used to replace traditional plastics in the packaging of all FMCG products. The company operates in Otaniemi, Espoo and currently has four employees. Woodly was founded by Solution agency Seedi Oy.