Accelerating mission to eliminate 10 billion units of single-use plastic
EMV Capital plc (or “EMVC”), the deep tech and life sciences VC investment group, is delighted to announce its investment in Xampla, the Cambridge University spin-out pioneering natural alternatives to single-use plastics, contributing to a $14 million Series A funding round. The round was led by incoming new investors Emerald Technology Ventures, BGF and Matterwave Ventures, along with follow-on investment from existing shareholders including Amadeus Capital Partners and Horizons Ventures.
EMVC’s investment was made through both EMV Capital’s EIS investment practice (including the Evergreen EIS Fund) and the Martlet Capital Fund, marking the first co-investment since EMVC assumed management of Martlet Capital in May 2024. The deal highlights the full integration of Martlet as an investment strategy within EMV Capital’s VC platform, alongside its EIS practice and wider co-investment network. Martlet Capital originally backed Xampla in 2019 in their seed round.
Xampla has developed breakthrough plant-based polymer materials that replicate the performance of conventional single use plastics whilst being completely plastic-free and biodegradable. Unlike traditional plastics, Xampla’s materials break down naturally, leaving no trace in the environment.
The new funding will enable Xampla to scale production of its Morro™ materials with the ambition of replacing more than ten billion units of the most polluting single-use plastics, such as plastic linings found in takeaway boxes, coffee cups and sachets. It will also accelerate partnerships with global consumer brands, building on existing collaborations with giants like Just Eat Takeaway and Bunzl Catering Supplies.
Xampla’s solution comes at a critical time. Global plastic production is estimated to reach one billion tonnes annually, with only a fraction ever recycled. Research has put the health and environmental costs of plastics at more than $1.5 trillion a year[1]. With global policymakers failing to agree on a global treaty to curb plastic pollution, companies like Xampla are playing a vital role in delivering real-world solutions that cut waste at the source and help industries transition to more sustainable systems.
Alexandra French, CEO of Xampla, said:
“This is a major vote of confidence for our revolutionary replacements for polluting plastics, and will see us expanding into Asia Pacific as well as growing in the UK and Europe. We have proven to investors and to brands that Morro™ materials are the real deal in making plastic a material of the past. Our ambition now is nothing less than to see our products – proudly bearing their Morro marque – become the world’s go-to plastic replacement.
“We’re grateful for the ongoing support of Martlet as one of our first investors, alongside the new investment from EMV Capital.”
Dr Ilian Iliev, CEO of EMV Capital plc commented:
“We are delighted to back Xampla through our EIS practice and Martlet Capital Fund, and their mission to replace single-use plastics. This first co-investment across the two funds shows how we are uniting Martlet’s Cambridge roots with our wider EIS strategy to invest in ventures that bring together world-class science with real global impact.
“Addressing the plastic waste crisis is one of the defining challenges of our time, and one of the investment themes in our sustainability focused portfolio.”
Tom Hall, Investment Director of Martlet Capital, added:
“Xampla has proven that its Morro™ materials are not just a breakthrough in the lab but a commercially viable solution to one of the world’s most pressing challenges, and one that is already being adopted by global brands.
“Since our initial investment in Xampla in their first funding round in 2019, we have supported its mission to eliminate the world’s most polluting plastics, and we are delighted to continue doing so, now with the support of EMV Capital’s EIS practice. We look forward to leveraging our combined strengths to back pioneering businesses like Xampla with significant potential – and to seeing their impact felt on a global scale.”