Almost three million euros for Bio Lutions

The delivery service Delivery Hero and other existing investors are providing additional funding. Bio Lutions has planned another financing round for this year.

It is only the preliminary round, a large Series B financing round is also set to take place this year: Cleantech Bio Lutions has just raised 2.7 million euros from its shareholders. The delivery service Delivery Hero and other existing investors are also involved. The start-up intends to use the money to further expand its new location in Schwedt, which was established in 2019.

The Hamburg-based start-up has been working on recyclable and environmentally friendly alternatives to single-use plastic and packaging since 2014. It primarily uses waste products from agriculture: banana or pineapple bushes, for example, are ground into fibers. When water is added, a pulp is created. This can then be pressed into shapes such as plates or cups. The production process requires no chemicals and very little energy, and the products are compostable.

Bio Lutions was founded in 2017 and production started in 2018. Delivery Hero and Deutsche Investitions- und Entwicklungsgesellschaft (DEG) recognized the potential early on and invested over eight million euros in 2019.

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