Sustainable medicine company Cabinet Health raises $17M funding round - Plastics News

Cabinet Health, a institution that makes drugs and refillable solid bottles with the purpose of eliminating single-use plastics from medicine and whose founders are based successful New York City's Williamsburg vicinity has raised a $17 cardinal backing round.

The round, announced Dec. 15, is simply a premix of equity and indebtedness and volition spell toward getting Cabinet’s products into retailers and pharmacies astir the state and scaling the business’s medicine manufacturing capabilities, said Russell Gong, Cabinet’s co-founder and president.

Customers tin spell to Cabinet’s website and acquisition generic prescriptions, over-the-counter medicines and supplements that travel successful refillable solid bottles with child-resistant caps and astute labels, eliminating their request to spell to the pharmacy and acquisition emblematic integrative bottles of medicine. Customers tin besides acquisition Cabinet products from Amazon and Grove Collaborative.

Cabinet offers astir 200 medicine medications successful its pilot. The institution volition officially connection prescriptions successful 2023 and hopes to marque much medicines portion expanding into pharmacies connected a ample standard truthful customers tin acquisition their products straight from their section stores, Gong said.

About 190 cardinal single-use integrative bottles are being utilized successful the aesculapian manufacture close now, and lone 3 percent to 5 percent of them are recycled, Gong said. Cabinet aims to trim the magnitude of integrative going into landfills and oceans, helium said.

Cabinet’s quality-testing sites for its medicines are successful Connecticut, and its manufacturing facilities are successful different states, Gong said, adding that manufacturing went unrecorded successful the opening of the pandemic, and those products supported front-line workers warring COVID-19.

The institution was founded successful 2018 and has raised astir $24 cardinal to date.