Vericool, a Livermore, Calif.-based startup that replacing plastic coolers and packaging with plant-based products, has raised $19.1 million in a new round of financing.The company stated goal is to replace traditional packaging materials like polystyrene with plant-based insulating packaging materials.Its technology uses 100% recycled paper fibers and other plant-based materials, according to the company, and are curbside recyclable and compostable.Investors in the round include Radicle Impact Partners,The Ecosystem Integrity Fund,ID8 InvestmentsandAiiM Partners, according to a statement.We&re pleased to support Vericool because of the company track record of innovation, high-performance products, well-established patent portfolio and focus on environmental resilience.
We are inspired by the company social justice commitment to address recidivism and provide workplace opportunity to formerly incarcerated individuals,& said Dan Skaff, managing partner of Radicle Impact Partners and Vericool new lead director.