Environmentally friendly & dissolvable plastic alternatives company with 1,500% revenue growth in 2022

Claim My Business
Security Type
Convertible Note
Manufacturing, Social Impact
Min Investment
Expected Close Date
February 12, 2024
Target Raise
No. Investors
Security Price
Number of Employees
Short Term Debt
Cost of Goods
Long Term Debt
Net Income

Company Description

When was the last time you used a plastic water bottle or carried your groceries with a plastic bag? The use of plastic is a forefront issue in contemporary news, and you’ve likely even seen commercials or news segments that highlight this problem. Plastic is almost too prevalent to stay clear from, as the world is producing about twice as much plastic waste as we were two decades ago.ii To put our plastic use into perspective, the world’s oceans may contain more plastic than fish, measured by weight, by 2050 if we don’t do anything to curb our reliance on plastic.iii With nearly 200 million tons of plastic in our oceans today,iv the use of harmful chemicals to produce the material,v and the advent of microplastics in human blood,vi plastic bans have begun to pop up in the last decade. Following California’s ban of single use plastic bags in 2014, 10 U.S. states today have banned single use plastic bags, and many other states have enacted plastic bag fees to further limit their use.vii What if you could use a plastic bag and dissolve it in water once you are done? What if there was another way to create a plastic-like material without the negative environmental consequences and harmful chemicals that put us and our environment at risk? Solubag USA (Solubag) is the exclusive licensee in the U.S. of a patented raw material that can be used to make plastic-like products without the plastic. Completely dissolvable in water, this material can be used to make grocery bags, dog waste bags, liquidless laundry detergent, and more. Moreover, the technology behind its water-soluble products is completely non-toxic, meaning you can drink the water the soluble product dissolves in. Companies like H-E-B, Sysco, and Frutisa have already begun using this technology, which Solubag believes validates its market acceptance as it seeks to bring the technology to North America. The company has already reported notable traction to date. In its first full year of business (2021), the company generated $20,936 in product sales, which increased approximately 1,500% in 2022 to $350,133. Since inception, Solubag has raised more than $1.7 million in investments and is currently seeking $1.235 million to further execute its strategy and distribute its products across North America.

Key Deal Facts

In 2022, the company grew revenues approximately 1,500% year-over-year to over $350,000, H-E-B, Sysco, and Chilean snacks distributor Frutisa are among the notable customers who have used Solubag technology, Patented water-soluble technology has won numerous awards, including the 2019 Singularity Award given by Singularity University as the Best Innovation in Latin America​i​​​, The company has received $1.72 million from investors

Amount Raised : $131,047
Reveal the Score by Voting
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
The value of the company compared to similar companies raising money from investors.

Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

Research Reports

No reports have been submitted

Become a Reporter