London-based KraftPal Technologies, a company that offers packaging and shipping alternatives to wood, composite, plastic, and other solutions, announced that it has raised €108.8M in a fresh round of funding.
The investment was made by Pasaca Capital Inc., a California-based private equity firm.
Founded in 2012 by Gregor Brajovic, KraftPal Technologies have developed proprietary technologies for both corrugated cardboard pallets and the production process.
The company claims its pallet designs meet the same international logistics standards as for wooden pallets in regards to performance characteristics. KraftPal’s automated mass-production manufacturing process allows it to quickly deliver fully sanitised, customisable pallets at scale. It provides technical and commercial solutions with internal assistance across the globe under the KraftPal turnkey license.
Currently, KraftPal is operational across Europe and the Middle East and utilises a high-speed automated system to manufacture durable, lightweight and recyclable corrugated pallets. Its aim is to improve performance, cost, sustainability, and efficiency in the way companies transport and store goods.
In December 2021, after various trials in the region, KraftPal opened its first manufacturing facility in the Middle East. Aiming to deploy 23 additional production machines at 3 strategic locations in Saudi Arabia, the company has drawn up plans to launch the first mega factory concept in the pallet industry to meet the high demand in the region. Construction work on the first 60,000 sq.m plant is already underway.
KraftPal claims that the funds will help expand the production of its lightweight, eco-friendly, low-cost, and highly durable corrugated pallets and accelerate a massive paradigm shift throughout the pallet industry.
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