Bio-Lutions secures €8.3m of Series A funding to expand business

17 May 2019 (Last Updated May 17th, 2019 12:52)

Sustainable packaging and disposable tableware solutions maker Bio-Lutions International has secured €8.3m ($9.27m) in a Series A funding round.

Bio-Lutions secures €8.3m of Series A funding to expand business
Bio-Lutions secures €8.3m Series A funding round from Delivery Hero and DEG. Credit: Bio-Lutions International AG.

Sustainable packaging and disposable tableware solutions maker Bio-Lutions International has secured €8.3m ($9.27m) in a Series A funding round.

The funding round has seen participation from key investors German online food ordering platform Delivery Hero and the Deutsche Investitions und Entwicklungsgesellschaft (DEG), as well as other investors.

The company will use the investment to produce packaging and disposable tableware using agricultural residues.

It also plans to use the new funds to expand globally by initially increasing production in India and establishing new production facilities in Europe and Asia.

Delivery Hero co-founder and CEO Niklas Östberg said: “We take our commitment to environmental sustainability seriously and these efforts are integral to our goals for the end of 2019.

“Improving the way to package delivered food sustainably with the help of Bio-Lutions will allow us to help reduce our carbon footprint.

“This is all in addition to a broader corporate responsibility focus that also emphasises giving back to local communities and creating a more diverse and inclusive workplace.”

This partnership will assist Delivery Hero to cater to customers’ demand for sustainable packaging options.

“These efforts are integral to our goals for the end of 2019.”

Delivery Hero currently works with more than 290,000 local and global restaurant partners.

Based in Hamburg, Bio-Lutions was founded in 2017 by Eduardo Gordillo and Stefan W Dircks. The company opened a production plant in India.

The company’s patented technology eliminates the need for additional binding agents or chemicals in the production of packaging and disposable tableware made from a range of agricultural residues.