JAY-Z and other investors with Marcy Venture Partners are betting on a Âé¶čAV-based company.
The group, along with Kensington Capital, announced a $5-million investment to help fund the growth of Pela, the worldâs first compostable smartphone case.
The company was founded in 2010, when Jeremy Lang was struck by all the small pieces of plastic washing up on the beach.
Production began in Saskatchewan, then headquarters moved to Âé¶čAV as business expanded.
Pelaâs flagship flax oilseed material is still produced in Saskatchewan.
âWeâll be adding 15 job opportunities to our Âé¶čAV team with the investment,â said Pela spokesperson Catie St. Jacques.
âWeâre really grateful for the funding with MVP and to expand and grow with that investment. Weâre looking forward to getting more retailers.â
Target is among the retailers set to carry the iPhone and Android Pixel cases, with distribution to stores across the United States starting Oct. 20.
To learn more about the company, you can
connor.trembley@kelownacapnews.com
Like us on and follow us on .
