On June 5, 2023, Florida-based Nohbo, a leader in the development of groundbreaking water-soluble packaging technologies, announced the completion of its Series A funding round, led by Material Impact Fund. While the financial details remain undisclosed, the round includes participation from Dara Holdings, Susquehanna Private Equity Investments, LLLP, and SaferMade. The funds will bolster Nohbo's growth within the hospitality sector and expedite the widespread adoption of its patented technology. Wilson Sonsini Goodrich & Rosati advised Nohbo on the transaction.

Nohbo is on a mission to eliminate single-use plastic. After making a splash on Shark Tank in 2014 and securing investment from Mark Cuban, the company has since developed a range of patented technologies that dissolve in water, leaving no trace of plastic behind. Collaborating with brands, retailers, and hotels, Nohbo assists in transforming traditional products into eco-friendly, package-free alternatives. As a Certified B-Corp, Nohbo is dedicated to making a positive impact on the environment with the reduction of single-use plastic waste.

A Wilson Sonsini team led by Mark Solakian, Amanda Creedon, and Aaron Gordon advised Nohbo on the transaction.

For more information, please see Nohbo’s press release.