ITI Fund Invested $1M in PVA PRO, a Vietnamese Water-Soluble Polymer Solutions Startup

Thursday, 03/08/2023 18:30 (GTM +7)

August 3, 2023 – PVA PRO, a pioneering startup specializing in cutting-edge technology for water-soluble polymer packaging, successfully raised about $1 million by ITI Fund, a Vietnam’s dynamic domestic investment (according to Vietnam Innovation and Technology Investment Report 2023). The investment has provided a significant boost for the startup, driving it closer to its mission of revolutionizing sustainable packaging solutions.

ITI Fund rót vốn triệu đô vào PVA PRO – startup sản xuất bao bì polymer tan trong nước PVA PRO packaging brings unique properties and diverse applicability

Traditional plastics might take centuries to degrade, while biodegradable plastics require specialized facilities to decompose within 6-12 months. The PVA PRO’s products, utilizing Polyvinyl alcohol (PVA) compounds, astoundingly dissolve in warm water (70c) within 30-60 minutes.

PVA has been used in many applications including laundry detergent pods and medicine wrappers, but its inherent cloudiness and quick dissolution in cold water have limited its suitability for packaging. In contrast, PVA PRO has ingeniously overcome these challenges by creating thin and transparent packaging that only rapidly dissolves upon exposure to warm water. This breakthrough dramatically broadens its potential applications across diverse industries. Co-founder Thai Nhu Hang revealed the team’s ambitious vision to expand PVA PRO solutions into various sectors, such as retail and FMCG, building on their success in delivering eco-friendly packaging solutions for the garment and fashion industry.

Established in 2021 by an experienced team, PVA PRO’s packaging solution not only maintains the flexibility of traditional plastics but also serves a diverse range of applications without producing microplastics or posing harm to animals and the natural ecosystem. This exemplifies the heartfelt of the founding team to address the pressing issue of plastic waste, amounting to 1.8 million tons in Vietnam (according to the Vietnam Ministry of Natural Resources and Environment) and a staggering 300 million tons globally (according to the United Nations).

Ms. Dang Thi Kieu My (Kimmy), ITI Fund’s Director, sheds light on the compelling reasons behind the fund’s decision to invest in PVA PRO. She underlined the team’s wealth of experience, their dynamic approach, and their impressive track record in crafting innovative solutions. Furthermore, Ms. Kimmy emphasized the growing trend among major brands towards prioritizing sustainability. This crucial element enables PVA PRO to realize its full potential and offer high-quality, environmentally friendly products to conscious consumers.

ITI Fund rót vốn triệu đô vào PVA PRO – startup sản xuất bao bì polymer tan trong nước The CEO and co-founder of PVA PRO, Mr. Raphael Cazalbou, at Shinhan Square Bridge Vietnam 2023

PVA PRO is recognized as one of the top 5 startups honored at the TechFest Vietnam 2022 competition. Additionally, this startup received the prestigious “Sustainable Initiative Award for Small and Medium-sized Enterprises” at the distinguished “Sustainable Business Awards 2022” ceremony, organized by the European Chamber of Commerce in Vietnam (EuroCham). Further adding to their accolades, they actively participated in the renowned Shinhan Square Bridge event held in South Korea in 2023.

PVA PRO với giải nhất “Doanh nghiệp bền vững năm 2022” PVA PRO was a winner of “Sustainable Initiative Award for Small and Medium-sized Enterprises” organized by EuroCham

Additionally, Mr. Raphael Cazalbou, the CEO and co-founder of PVA PRO, envisions that about $1 million investment combined with the strategic and operational advisory received from the ITI Fund, PVA PRO will achieve significant milestones. These include enhancing manufacturing capabilities, developing new products, expanding the market, and making even more significant contributions to sustainable value for the community.