PALLITE produces environmentally friendly products made from 100% recyclable paper honeycomb board that contains over 75% recycled content. The company says its products reduce raw material use and carbon emissions to help businesses lower environmental impact. Since the COVID-19 lockdown it launched pop-up desks for working from home, set up an online shop within two weeks, and has sold to customers including GymShark and The Open University. PALLITE is now listed by Ryman, Staples, and B&Q and is preparing EcoLITE, a recycled protective and insulative packaging range to replace polystyrene and foam. Management reports it has refocused sales, increased research, and improved production efficiency, which has raised margins. The company is targeting international growth in the U.S. and Europe and will use funds from the current Crowdcube raise to continue product development. Financially it returned to Crowdcube and quickly raised its initial £1 million target in the latest campaign.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2020