Almost three million euros for Bio Lutions

Delivery service Delivery Hero and other existing investors are adding more money. Bio Lutions has planned another round of financing for this year.

It's just the preliminary round, a big Series B funding round is also scheduled to take place later this year: 2.7 million euros the cleantech bio Lutions currently raised from its shareholders. The delivery service Delivery Hero and other existing investors are also involved. With the money, the start-up wants to further expand the new location in Schwedt, which was built in 2019.

The Hamburg-based start-up has been working on recyclable and environmentally friendly alternatives to disposable plastic as well as packaging since 2014. To do this, it relies primarily on waste products from agriculture: for example, banana or pineapple bushes are ground into fibers. When water is added, the result is a pulp. This can then be pressed into shapes such as plates or cups. The production does not need any chemicals and only little energy, the products are compostable.

Bio Lutions was founded in 2017, and production started in 2018. Delivery Hero and the German Investment and Development Company (DEG) recognized the potential early and invested over eight million euros in 2019.

The offer comes at just the right time, as the EU is banning disposable plastic items from mid-2021.