MUMBAI: UK-based Plastics For Change (PFC), a recycled plastic supply chain organisation, has raised $2 million from Mirova Natural Capital, an affiliate of Natixis Investment Managers.
The funding will support PFC's business model to help coastal communities across India and South Asia to prevent discarded plastics from entering the ocean-bound waterways. "In addition to this, the investment will enable an increasing number of brands and manufacturers access high-quality recycled plastic material from transparent and responsible supply chains," according to PFC.
The funding round was led by Mirova through The Althelia Sustainable Ocean Fund, an investment vehicle dedicated to creation of value and social impact by providing growth capital