The round was led by Exit Ventures, a premier venture capital firm based in Utah, to accelerate the company's global expansion and drive substantial revenue growth.

Solubag is a leader in the development of environmentally sustainable alternatives to single-use plastics. Founded in Santiago, Chile, the company developed and patented a proprietary raw material that replaces traditional plastic in single-use products such as shopping bags, dog waste bags, t-shirt bags, bubble-wrap, etc. Solubag's products dissolve in soil or water, are plastic-free, non-toxic, and eco-friendly, offering a viable solution to the global plastic waste problem.