FunCell raises €4.8 Million to pursue its ambition to replace some of the petro-sourced additives used in paper, enable the creation of high-performance new packaging, and contribute to the substitution of single-use plastic packaging with paper.
This fundraising includes a capital increase and support from FunCell’s financial partners. It results from the involvement of three relevant categories of shareholders:
– Two lead funds, different and complementary:
– OBRATORI, an early-stage investment fund of the L’Occitane Group supporting innovative and high-potential projects.
– IRON HANDS CAPITAL, a private equity firm exclusively focused on disruptive (DeepTech) companies founded on advanced technologies that bring progress.
– A group of qualified Business Angels and two Family Offices from industrial, paper, and luxury backgrounds, with strong experiences and networks.
– LITA.co, the first investment platform offering individuals the opportunity to invest directly in companies with strong social and environmental impact. FunCell’s collaboration with LITA.co demonstrates FunCell’s commitment to making its venture accessible to a wide audience, including small investors interested in investing in a DeepTech, Greentech, and industrial project.
In addition to these investors, it is worth mentioning the strong support from Bpifrance and banking partners BNP Paribas and Banque Populaire, since the creation of FunCell.
According to Gilles du Sordet, co-founder and president of FunCell: “We are very pleased with this fundraising. We now have the means to continue FunCell’s development in this new stage around three strategic axes: the industrialization of our production, with a first pilot for our BioWet mechanical reinforcement product, the continuation of our very promising developments of our BioGraft product, and finally, the strengthening of our commercial effort with our current pilot customers who trust us, as well as new prospects very interested in our technologies.”
