Foreign Venture Capital News

There will be more than 2, sales outlets before January 1, 223

According to foreign media TechCrunch, French start-ups have raised 7 million euros, with investors including Eurazeo and FiveSeasonsVentures. This startup company has been developing a software to help catering enterprises recycle food packaging boxes for the past three years.

The picture is taken from the enterprise official website

According to the founder, the idea of starting a business comes from a market in the Tuileries Garden: beside the food stall, the garbage bins are full of plastic cups, hamburger boxes and other disposable food packages.

The company cooperated with French catering service company in the early stage of its business, replacing plastic cups with recyclable tableware. Affected by COVID-19, the business was frustrated, so we began to look for other potential customers. At present, this startup company has cooperated with food technology companies such as, to provide networked refrigerators for packed lunches and snacks.

but the biggest market opportunity comes from the change of regulations. In July 22, the French Parliament passed an anti-waste law, requiring that restaurants must switch to reusable food containers by January 223. This means that fast food chain stores will not be able to use paper cups, plastic cups, disposable flip boxes and so on. We have reached a cooperation with a French fast food chain to help them gradually adopt recyclable packaging.

The picture is taken from the enterprise official website

This startup has created an Internet of Things software, which connects the upstream and downstream companies in the food industry. For example, when a fast food restaurant buys a batch of packaging boxes, all the packaging boxes have QR codes or NFC chips, which can be tracked in real time. Restaurants can outsource the cleaning and recycling work to other companies and recycle the packaging boxes regularly. These contractors will scan the QR code on the container and follow up the progress of cleaning or transportation.

on the consumer side, customers can take the packaging box home and use the application to find the nearest recycling site. The company is considering gamification or issuing small bonuses as incentives.

BenjaminPeri, co-founder and CEO, said in an interview: "Our vision is to build a comprehensive and efficient recycling network. We want recycling to become an infrastructure. This startup believes that a dense network of restaurants, recycling sites and cleaning centers will be established in the near future.

the company plans to start with fast food chain stores. It is believed that the popularity of the software will further encourage other catering enterprises to join, and finally make the company a core network operator.

Image taken from official website

This startup is expected to have more than 2, sales points by January 1, 223. Hope to further expand cooperation with food technology companies and catering service enterprises. The company will use the latest injected funds to expand its team and recruit about 7 employees.

according to the research data, the European recyclable packaging market is worth $1.177 billion in 219, and will reach $1.37 billion by the end of 224, with a compound annual growth rate of 2.22% from 219 to 224. Among them, in 219, the sales market share of European recyclable packaging in the food field was 32.28%, and it remained stable year by year. Recyclable packaging companies include.