SOUTH CAROLINA – July 23, 2024 – South Carolina Research Authority’s investment affiliate, SC Launch Inc., has invested $250,000 in Bubble Paper as part of a $10 million Series A funding round. The Greenville-based company is revolutionizing the packaging industry with its higher-performing, eco-friendly replacement for the plastic shipping solutions of yesterday.
Bubble Paper became an SCRA Member Company in 2018 and received a $25,000 Project Development Fund Grant. They received a $50,000 Acceleration Grant in 2019 and later became an SC Launch Inc. Portfolio Company when they received their first investment of $300,000. They received a second investment of $300,000 in 2022.
SCRA Senior Investment Manager Rob Moser said, “Bubble Paper is a trailblazer in the environmental packaging industry. They offer packaging materials that provide the same protection and temperature control as current plastic and Styrofoam alternatives at a comparable cost. With the increasing number of regions, including several locations in South Carolina, banning plastic foam insulation for food and product shipping, Bubble Paper is uniquely positioned to leverage this movement and drive significant change.”
“We were fortunate to start working with the SCRA and SC Launch Inc. teams early on. They understood our mission and partnered with us to create a friendly and mutually beneficial investment partnership. These early investments were key in helping us innovate and scale our production capability, allowing us to focus on growth and efficiency,” said Bubble Paper Founder Benjamin Moore. “Our products are sustainable from the moment they are manufactured to the time of disposal.”
“Each year, our team nominates startups to become our Company of the Year, and Bubble Paper was this year’s winner. This third investment is a testament to Bubble Paper’s momentum,” said SC Launch Inc.’s Executive Director Matt Bell. “We are looking forward to their continued job growth and success.”
Founder Benjamin Moore elaborates on Bubble Paper’s success and how his company began in a recent Greenville Business Magazine feature.
The journey into the U.K.’s dynamic life sciences sector commenced with a significant meeting in London. The South Carolina delegation, led by Deputy Secretary of Commerce Ashely Teasdel and Jon Baggett, Deputy Director of Global Business Development for FDI, met with government officials to discuss a Memorandum of Understanding aimed at fostering ongoing bilateral collaboration across industry sectors, including the life sciences. This initial engagement set a collaborative tone for the trip, emphasizing the importance of international partnerships in driving innovation.
Established in 2006, SC Launch Inc. is the investment affiliate of the South Carolina Research Authority. The independent, nonprofit corporation provides convertible loans and investment funding to qualifying SCRA Member Companies. The returns on this funding provide additional coaching and grants to next-generation technology startups.
Chartered in 1983 by the State of South Carolina as a public, nonprofit corporation, South Carolina Research Authority fuels the state’s innovation economy through the impact of its comprehensive services to technology-based startups, academia, and industry. SCRA provides funding and support to accelerate the growth of academic startups; high-quality lab and administrative workspaces; facilitation and funding for partnerships between and among industry, startups, and academic institutions; assistance and funding for the relocation of technology-based companies to South Carolina; and coaching and funding for startups that may also receive investments from its affiliate, SC Launch Inc.