Summary

Cabinet Health’s mission is to eliminate single-use plastic from healthcare, starting with high-quality prescription and over-the-counter medications.

Background

194 billion plastic medicine bottles are produced each year, and only 3-7% of those are recycled. Cabinet’s proprietary medical supply chain and packaging is the first refillable, backyard compostable packaging system in pharmaceuticals. Cabinet Health has spent ~5 years developing and commercializing this product system and is currently focused on growing the business across 3 pillars:

Cabinet OTCs:

15 OTC medicines in a sustainable, refillable system available at CVS, Amazon, Grove, , and another national retailer launching in Q4 2023

Cabinet RX:

200+ prescriptions medicines without the plastic, sold directly to consumers via Cabinet Health’s digital health platform

Cabinet Sustainable Healthcare Solutions:

Transitioning large pharmaceutical companies away from plastic faster, powered by Cabinet. Customers include McKesson, the largest pharma distributor in the world.

Why Cashmere Fund Invested:

Team experience matches with the key variables of the business:

Achal and Russell are strategic, scrappy, and mission-driven founders who have built the foundational platform and IP of sustainable medicine. Other team members have strong CPG experience at omni-channel startups like Harry’s.

Time to take their product mainstream

Cabinet is rolling out to 711 CVS stores and another national retailer later this year. Given that 80% of people buy their OTC medication in retail, this represents a massive opportunity to grow the business with customers who would resonate with Cabinet’s mission.

Other Active Investors

Natureza Growth Partners, The Global Good Fund, Unreasonable Group, Metaplanet, Gaingels