Packmatic’s digital packaging marketplace bags US$16.30M for European expansion

GERMANY – Berlin-based digital packaging marketplace, Packmatic has secured €15 million (US$16.3 million) in a Series A funding round to support its digital packaging marketplace expansion into Europe.

GERMANY – Berlin-based digital packaging marketplace, Packmatic, has successfully secured €15 million (US$16.3 million) in a Series A funding round, led by European venture capital firm EQT Ventures, alongside contributions from HV Capital, xDeck, and distinguished angel investors.

The influx of funds will support Packmatic’s ambitious expansion into the European market.

This strategic investment will primarily fuel the enhancement of Packmatic’s software solutions and the expansion of its team, bolstering the company’s capabilities to propel business growth.

Headquartered in Berlin, Germany, Packmatic has positioned itself as a digital solution connecting product companies with a vast network of over 300 suppliers across Europe.

Established in 2021, the platform assists customers in locating high-quality, tailored, and specialized packaging suppliers that align with their unique requirements.

Noteworthy is the company’s claim that its services result in an average reduction of 16% in customers’ packaging expenses.

Beyond optimizing packaging processes and curbing costs for product companies, Packmatic actively contributes to reducing plastic usage and carbon footprints.

Matthias Geiss, co-founder and managing director of Packmatic, highlighted the longstanding neglect of the packaging market, emphasizing its integral role in supply chains.

He pointed out the slow and disjointed sourcing process, particularly challenging for small and medium-sized enterprises (SMEs).

Geiss expressed Packmatic’s commitment to addressing this gap by delivering meaningful cost savings and efficiencies to customers while supporting their environmental objectives through the platform’s data-driven approach.

As the demand for responsible packaging solutions continues to surge, Packmatic positions itself as a leader in driving industry change with its cost-effective, efficient, and environmentally conscious approach.

The packaging market, valued at €1 trillion (~US$1.09 trillion) globally, is characterized by significant fragmentation on the supply side, making it challenging for customers to navigate due to its analog nature.

Packmatic’s fully digital packaging one-stop shop seamlessly connects customers with a comprehensive network of over 300 packaging suppliers throughout Europe.

This innovative approach empowers businesses to make informed and sustainable decisions when sourcing their packaging solutions, all while achieving cost reductions.

In the face of increasing pricing pressures on companies across industries and the heightened global focus on sustainability, Packmatic’s tech platform stands poised to disrupt the market and emerge as a category leader, according to Belkahia.

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