Keystone Law has advised Kelp Industries Ltd (trading as Kelpi) on raising £3 million in seed funding. The Bristol-based sustainable packaging scale-up has developed a unique biopolymer from seaweed, which can be applied as a coating to materials such as paper and card. The resulting packaging is recyclable, compostable and marine-safe.
The investment was led by Science Creates Ventures and Green Angel Syndicate, with funding from One Planet Capital and follow-on investment from Bristol Private Equity Club, as well as private angel investors. It included £665,000 of grant funding from Innovate UK’s Combined Investor Partnership.
The Keystone Law team was led by corporate partner Charles Frank and included employment partner Jane Wheeler and corporate associate Sophie Welbourn.
Neil Morris, co-founder and CEO of Kelpi, commented:
“We were delighted to work with Charles and his colleagues at Keystone Law on the funding round. Charles worked effectively and swiftly and really felt like a key member of the management team during the round, ensuring we got to a successful outcome in good time, but also in good humour.”
Charles Frank added:
“This was an exciting deal to be part of. I wish Kelpi every success as the business continues to grow and develop.”