The Coca-Cola Company and eight other bottling companies, including Arca Continental, have partnered with Greycroft to establish the $137.7 million Greycroft Coca-Cola System Sustainability Fund.
“This fund offers an opportunity to pioneer innovative solutions and help scale them quickly within the Coca-Cola system and across the industry,” said John Murphy, President and Chief Financial Officer of the Coca-Cola Company. “We expect to benefit from getting access to emerging technology and science for sustainability and carbon reduction.”
The fund prioritizes reducing the Coca-Cola system’s carbon footprint and will focus on the company’s packaging, heating and cooling, facility decarbonization, distribution, and supply chain practices.
“The market for sustainable supply chain and manufacturing technology has continued to grow as consumer brands rise to meet the demands of environmentally conscious customers,” said Dana Settle, Greycroft Co-Founder and Managing Partner. “Greycroft has an ‘invest anywhere’ approach that we believe allows us to identify promising startups with climate tech solutions ready to scale.”
The bottling partners represent nearly half of Coca-Cola's global system volume, and they have invested in various sustainability-focused projects.