Lumi, a Los Angeles, CA-based food and beverage packaging startup fighting the global surge in single-use plastics, closed its seed round of funding of undisclosed amount.
Initial investors included Innovent Group, Hydra Group, and Responsibly Fund.
The company intends to use the funds to
- Expand Marketing and Sales: Increasing brand visibility and scaling customer acquisition efforts.
- Build Inventory: Ramping output to fulfill large orders.
- Enhance Product Development: Developing additional beverage package options.
Led by Kevin Diamond, Co-Founder and Chief Executive Officer, Lumi is advancing the LumiCup, a light disposable and recyclable aluminum cup with shipments to hospitality, entertainment and travel & leisure consumers beginning in early 2024. The LumiCup will be an environmentally conscious product available in 9 oz., 12 oz. and 16 oz. cup sizes, serving a wide variety of cold beverages.
Lumi will also soon introduce a recyclable 2oz.
FinSMEs
28/09/2023