CPE News (12.12.2023) – Friendlier has raised $5 million in seed extension funding led by Relay Ventures and Garage Capital, with support from other investors including founders and operators.
Founded by Kayli Dale and Jacqueline Hutchings, Friendlier offers returnable, multiple-use plastic containers at the same cost as single-use containers. Similar to a deposit fee on pop cans, customers pay a deposit which is returned when containers are returned. The containers are then sanitized and recirculated for use.
Friendlier has raised $8.35 million to date, including $850,000 in pre-seed funding, $2.5 million in seed funding, and the $5 million seed extension. Additionally, the company has secured over $1 million in non-dilutive funding.
photo credit: Friendlier
News Release
Friendlier Secures $5M to Accelerate Nationwide Expansion
Company Aims to Help Businesses Transition from Single-Use Plastic to Reusable Packaging Solutions
Toronto, ON, Dec. 12, 2023 (GLOBE NEWSWIRE) — Friendlier, a Canadian leader in the reusable packaging industry, is thrilled to announce a successful seed extension raise to further its mission of helping businesses transition from single-use to reusable packaging.
The successful closure of a $5 million funding round was led by Relay Ventures and Garage Capital, with support from experienced founders and operators.
The funding infusion will accelerate Friendlier’s path to scale, with a focus on strengthening its sales team to meet growing demand and establishing new facilities in Guelph and Vancouver. The company aims to build a robust reverse supply chain, supporting reusable packaging at scale as businesses increasingly move away from single-use plastics.
The announcement comes as Canada was set to implement its nationwide ban on the sale and distribution of single-use plastics this month. That decision was recently overturned, and the federal government is planning an appeal. Many companies had already started transitioning away from single-use plastic in response to consumer demands and in preparation for the impending ban.
“While the ban would help us capture the market that is resisting change away from single-use packaging, many brands are committed to improving the sustainability of their packaging regardless of the federal regulations,” says Kayli Dale, CEO, Friendlier. “Canada can be a leader in embracing the change towards sustainable, circular packaging, or fight the change and delay the transition. This change is happening around the globe, and it’s not a question of if, but when the ban will be implemented.”
Founded in 2019 by two chemical engineers, Friendlier offers returnable, multiple-use plastic containers at the same cost as single-use containers. Similar to a deposit fee on pop cans, customers pay a deposit which is returned when containers are returned. The containers are then sanitized and recirculated for use.
To date, Friendlier has raised a total of $8.35 million, including $850,000 in pre-seed funding, $2.5 million in seed funding, and the recent $5 million seed extension. Additionally, the company has secured over $1 million in non-dilutive funding.
“Friendlier is driving a paradigm shift in how businesses and consumers approach the issue of single-use packaging,” said John Albright, Founder and Partner, Relay Ventures, and Member, Friendlier Board of Directors. “In a world where environmental consciousness is paramount, Friendlier’s innovative solutions are not just alternatives; they are catalysts for a sustainable future. We are delighted to continue supporting Friendlier as they make a measurable impact on the environment.”
A Milestone Achieved: One Million Containers Reused
After just three years in market, Friendlier recently celebrated a significant milestone of reusing one million containers, which is the equivalent of 127,000 pounds of plastic waste, 370,000 pounds of CO2 emissions, and 8 million litres of water saved compared to single-use packaging. “This is the first million of many,” says Dale. “We are really only getting started.”
With growing demand for sustainable alternatives and a proven model at scale, Friendlier is looking to replicate the model to new markets with plans to tackle the single-use coffee cup problem with the introduction of a line of Friendlier reusable coffee cups.
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About Friendlier:
Friendlier is Canada’s fastest growing reusable packaging solution and aims to build a future where reusable packaging can replace single-use packaging. Their high-quality reusable food containers, simple app to claim deposits, and convenient returns makes it easy for users to enjoy their favorite meals, without the waste. To learn more, visit www.friendlier.ca, Instagram, and LinkedIn.
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