HGP – TemperPack Bags $31M Series C For Sustainable Thermal Packaging

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HGP – TemperPack Bags $31M Series C For Sustainable Thermal Packaging

Posted: August 7, 2020

ClimaCell, Harbert Growth Partners, HGP, home deliveries, recyclable, sustainable packaging, TemperPack, thermal insulation

TemperPack has found a way to not only ship perishable food and temperature-sensitive medicine, but do it in a sustainable way.

And investors are taking notice.

The Richmond, Virginia-based company raised $31.3 million in Series C financing led by Wheatsheaf Group, and included follow-on investments by existing shareholders Revolution Growth, Harbert Growth Partners, SJF Ventures, Arborview Capital, Tao Capital, Third Prime Capital and Greenhouse Capital.

The new funding gives TemperPack total investments of more than $78 million, co-founder and CEO Brian Powers told Crunchbase News. The total also includes a $22.5 million Series B round from January 2019, according to Crunchbase data.

TemperPack was founded in 2015 by Powers, Chief Product Officer James McGoff and Chief Technology Officer Charles Vincent to design and manufacture sustainable thermal insulation for home deliveries.

Its flagship product is the patented ClimaCell thermal liners that provide similar levels of thermal protection as expanded polystyrene foam (EPS)–what we know as Styrofoam®. Unlike EPS, ClimaCell, is plant-based, 100 percent curbside recyclable, and reduces carbon emissions, Powers said.

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