Oslo-based Looping, a company specialised in reusable transport packaging, announced that it has secured NOK 23M (approximately €2M)  in a fresh funding round led by Norselab with participation from MP Pensjon, Marius Maske AS, as well as existing shareholders.

Out of the total, Norselab contributed around NOK 8M (approximately €707K) in the round.

With the latest capital injection, Looping plans to introduce its product — Modulcover, to Germany and Benelux.

“Expanding to Europe with our customers, we’re lucky to have Norselab as an owner with considerable insight into circularity, business expertise, and international recognition. This will bring added value to the company beyond the fresh capital,” says Looping CEO Jens Brustad.

The Norwegian company also announced Fredrik Wahl as the board’s new chair, as part of the new ownership structure, and to support the company’s growth.

Wahl has spent the major part of his career at DNB-Norways, by far the largest bank, as Senior Vice President focusing on Investments, M&A, and restructuring.

“I’m pleased to assume this responsibility in this exciting phase of the company. We are all very pleased to have Norselab join with their solid track record and expertise within impact investments, and we are very much looking forward to collaborating on the work with realising the company’s ambitious growth plan,” says Wahl.

Looping: Replacing single-use plastic with reusable transport packaging
Founded by Jens Brustad in 2017, Looping specialised in producing durable and reusable transport packaging for construction modules, housing modules, and steel containers.

The company’s first product – Modulcover is adapted for the module market with reusable protective covers for contractor modules, housing modules, and steel modules.

Looping offers reuse as a service, making circular packaging cost-efficient, eliminating the use of disposable plastic, and reducing time spent on packaging and disassembly by up to 75 per cent.

Currently, the company works with various clients, including Ramirent, CRAMO, and Algeco in Scandinavia. To date, the company has eliminated over 100 tons of single-use plastic from the construction and rental industry.

At present, Looping is present in Norway, Sweden, Finland, Denmark, and the Baltics.

The investor
Norselab is an impact investment platform that invests in net-positive companies that accelerate the urgently needed change in global industries. The company currently manages four funds in growth equity and credit.

“Looping is in an excellent position for expansion into international markets. We also believe they can expand to new industries that depend on single-use plastics, which makes Looping a very attractive investment, both in terms of commercial potential and impact”, says Norselab CIO Yngve Tvedt.

Oslo’s Looping secures €2M from Norselab, others; eyes Europe expansion 

Looping, an Oslo-based company specializing in reusable transport packaging, has raised approximately €2 million in a funding round led by Norselab, with participation from MP Pensjon, Marius Maske AS, and existing shareholders. The funding will support Looping's expansion into Europe, starting with Germany and Benelux. Fredrik Wahl has been appointed as the new board chair to oversee the company's growth. Looping, founded in 2017 by Jens Brustad, focuses on producing durable reusable transport packaging for various industries, aiming to reduce single-use plastic consumption. Norselab, an impact investment platform, contributed around €707K in the funding round, highlighting Looping's potential for international growth and positive environmental impact.