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Billy Goat Brands Investee Evanesce Closes Oversubscribed $10.1 Million Series B Funding Round

Nov 10, 2021•over 3 years ago

Amount Raised

$10.1 Million

Round Type

series b

Vancouver

Description

Billy Goat Brands Ltd. (“GOAT” or the “Company”) (CSE: GOAT) (FRA: 26B), a venture capital platform focused on identifying, sponsoring and incubating environmental, social and governance (“ESG”) focused companies in the blue economy, is pleased to announce that its portfolio company, Evanesce Packaging Solutions Inc. (“Evanesce” or the “Portfolio Business”), has closed an oversubscribed CAD 10.1 million Series B funding round (the “Series B Round”). Due to strong demand, the Series B Round closely follows the completion of Evanesce’s Series A financing in February 2021, in which GOAT’s Portfolio Business raised a total of CAD 15 million

Company Information

Company

Evanesce

Location

Vancouver, Washington, United States

About

“The closure of another successful funding round enables Evanesce to accelerate its growth strategy to meet the growing market demand for sustainable food service and packaging solutions,” says Douglas Horne, Founder and CEO of Evanesce. Evanesce is a sustainable technology innovator, developing standard disposable food containers using a patented molded starch technology comprised of plant-based by-products that is 100% compostable and decomposes in 90 days. “Evanesce is committed to replace single-use plastics and Styrofoam packaging with plant-based, compostable alternatives that are scalable, cost effective and truly sustainable.”

Funding Insights

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