Estonian producer of wool packaging Woola raised €2.5M
Tallinn-based producer of wool packaging Woola raised €2.5M from the lead investor Jaan Tallinn’s fund Metaplanet with the participation of existing backers US fund Future Ventures, owned by a venture capitalist with Estonian roots Steve Jurvetson, Estonian VC Lemonade Stand, and new angel investors.
UPD: According to the startup, the new investment round was backed by business angels from Estonia co-founder of the investment platform Grünfin Triin Hertmann, CTO at Grünfin Alvar Lumberg, and EstBAN Board member Remo Holsmer.
Founded in 2020 by Anna-Liisa Palatu, Jevgeni Širai, and Katrin Kabun, Woola uses waste wool to make packaging and replace plastic bubble wrap in e-commerce. Among its products are wool envelopes for transporting delicate items, such as cosmetics, glasses, luxurious accessories, electronics, etc, and protective cases for glass bottles made of the remains of sheep’s wool.
The packaging is used by global online stores and luxury goods sellers during transportation. Among the company's clients are two houses of European retailer of luxury goods and jewelry, LVMH Group. Woola will use the investment to grow its sales and marketing team and expand its product line for the luxury and e-commerce markets.
In 2021, Woola raised €2,5M from the lead investor Future Ventures with the participation of co-founders and employees of Veriff and other business angels.
Founded in San Francisco in 2019 by Steve Jurvetson and Maryanna Saenko, Future Ventures focuses on seed- and early-stage companies, with initial checks of between $3M to $6M. In April 2023, Future Ventures closed its third $200M fund. The main areas of interest are machine intelligence, sustainable mobility, the future of food, computational biology, high-performance computing, and aerospace.
Metaplanet Holdings is an early-stage investment firm of Skype’s founder Jaan Tallinn. It has 163 companies in its venture investment portfolio. This year, the firm invested in Estonian business software for freelancers and individual entrepreneurs Xolo, Latvian technology company Aerones, Tallinn-based startup Vok Bikes, Lithuanian biotechnology startup Atrandi Biosciences, US home kits for blood testing SiPhox Health, US cleantech Modern Electron, New York-based document automation solution Cognaize, Iceland-based solution for the metals industry DTE.
Founded in San Francisco in 2019 by Steve Jurvetson and Maryanna Saenko, Future Ventures focuses on seed- and early-stage companies, with initial checks of between $3M to $6M. In April 2023, Future Ventures closed its third $200M fund. The main areas of the fund's interest are machine intelligence, sustainable mobility, the future of food, computational biology, high-performance computing, and aerospace.
Founded in Tallinn in 2019 by Siim Teller, Lemonade Stand invests in early-stage tech companies from the Baltic and East European regions. The initial ticket ranges from €25K to €300K.
