"This financing round will bolster our sales and marketing capabilities and fund the development of new applications for our patented closures, positioning SPT to become the breakout packaging technology company in the consumer market," said Crosby.
"We are thrilled for the opportunity to work alongside and invest in the SPT team," said Jordan Mollenhour of Mollenhour Gross. "We are confident in the continued proliferation of FunLPro™ technology, and we believe it solves a problem experienced around the globe on a daily basis. Consumers will benefit from reduced spills and less waste when using everyday items such as motor oils, household cleaner products, medical fluids, and industrial compounds. This is a huge market. From our perspective, Southeastern Packing Technologies will revolutionize the packaging industry and create the first major innovation in CPG packaging in over three decades."
About Southeastern Packaging Technologies, LLC
Southeastern Packing Technologies holds a portfolio of patents around high-end dispensing closures that eliminate the need to use funnels or separate pouring devices when transferring CPG fluid products in bulk and at retail. www.funlpro.com
About the Investor
Established in 2004 by Jordan Mollenhour and Dustin Gross, Mollenhour Gross, LLC (http://www.mollenhourgross.com/) is a private holding company with offices in Knoxville, TN. Its portfolio companies are engaged in a variety of industries including e-commerce, warehousing fulfillment, real estate, private lending, venture capital, and software.
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SOURCE Southeastern Packaging Technologies