Bpacks, a London, UK-based packaging technology company, raised €1M in Pre-Seed funding.
Backers were not disclosed.
The company intends to use the funds to establish operations in Spain in 2025.
Led by Mikhail Skalkin and Lev Bolshakov, Bpacks is a circular economy startup that has developed a composite material based on its own innovative formula, which transforms bark into a 100% compostable active packaging material. This material extends product shelf life and possesses antimicrobial properties, providing an eco-friendly alternative to petroleum-based rigid plastics.
Founded in 2022, the company manufactures its packaging at an R&D lab in Serbia and is currently piloting a partnership with an FMCG retailer. Bpacks plans to launch in Spain in early 2025 and is preparing to expand commercial operations in North America by 2026.
FinSMEs
13/12/2024