PALLITE®, an award-winning international designer and manufacturer of sustainable, paper honeycomb board products from Northamptonshire, UK, has raised over £1.1million on Crowdcube. PALLITE®’s consumer-led innovations are transforming traditional packaging and the logistics industries by helping them to move, protect, and store their goods in a more sustainable way. Made from over 75% recycled materials, their 100% recyclable products empower their customers to act in a more environmentally friendly manner while still achieving efficiency, productivity, and bottom-line cost improvements.
PALLITE® publicly launched their fundraising campaign on 28th October and quickly smashed their £800,000 target. Throughout the campaign, the PALLITE® team have been delivering real-time updates to their Crowdcube followers such as their second consecutive record sales month in October and their first shipment of products to Israel. What’s more, the team hosted two well attended and well received Q&A webinars allowing current and potential investors to speak directly with the management team.
PALLITE® has seen turnover grow 60% a year on average for the last three years, and at the same time, the business has continued to innovate since their last fundraise in July 2019 where they successfully raised over £1 million. Following a strategic review in December 2019, the team changed tactics to realign field sales efforts and improve production efficiencies.
With a focus on sustainability, led by their inhouse team of sustainability advisors, they plan to use the funds raised to support the growth in environmentally-friendly transit packaging sales, as well as promote more sustainable alternatives to foam and polystyrene packaging.
PALLITE®’s raise closes at midnight on Friday 27th November 2020. To view PALLITE®’s pitch on Crowdcube or to invest in the business, please visit www.crowdcube.com/pallite