Ecologic Brands, an Oakland, CA-based maker of a recycled paper bottle and the eco.bottle® line, completed the first close of a $7m round of financing.
Backers included Kruger Inc., which made a strategic investment, and angel investors DBL Investors, Catamount Ventures, and Black Bear Partners. As part of the investment agreement, Kruger will become the exclusive licensee and manufacturer of Ecologic’s paper bottle technology in Canada.
The company intends to use the proceeds to scale current manufacturing capabilities after building a manufacturing facility in Manteca, California last year.
Founded in 2008 by Julie Corbett and led by Ira Maroofian, CEO, Ecologic Brands is a paper (made from recycled cardboard) bottle manufacturer that aims to reduce the waste and environmental impact associated with traditional bottles.
Customers include Seventh Generation, Safeway and Bodylogix.