Saturday, July 13, 2024

Antimicrobial packaging startup OSY Group secures grant

Must read

OSY Group, a startup that produces an antimicrobial coating for packaging to extend the shelf life of fruits and vegetables, has secured a five-figure grant from Innovate UK.

The funding from Innovate UK’s Global Explorers Programme will go towards finding new markets for the startup’s antimicrobial packaging coating, Xtend.

Xtend is designed to allow food items to stay fresh for longer by leaving microscopic pins on packaging surfaces. The aim of the pins is to puncture and kill microbes, slowing the natural spoiling process.

OSY Group is now focusing on introducing the product to the rest of Europe, Australia, New Zealand, Canada, South Africa, Singapore, and Hong Kong.

It claims to have “undergone extensive testing in the UK at independent laboratories, universities, and other facilities, which has proven the technology to be food safe and compliant with the Food Contact Materials regulations for fresh produce.”

CEO Marc Braterman said: “Having proven our technology in fresh fruit in the UK, we now wish to understand how Xtend can be adapted for different markets, and it’s great to have the support of Innovate UK as we seek to maximise opportunities overseas.

The undisclosed funding takes Innovate UK’s overall backing for the business so far to more than £500,000.

The latest investment comes just three months after £750,000 in funding from three angel investors and one existing backer. OSY Group has so far raised a total of £1m from individual investors to support its development.

Latest article