Wambrechies-based Le Fourgon, a startup that is rehabilitating the use of returnable glass bottles and containers everywhere in France, announced a €10 million Series A funding round from its main investors Id4 & Teampact as well as the La Poste Ventures fund (initiated by La Poste and managed by XAnge), and several business angels.
Over the past two and a half years, Le Fourgon (“The Van”) has developed a wide range of local and returnable products delivered door-to-door every day in over 2,000 French cities. Since its creation, the company has helped to avoid +10M single-use bottles and containers, representing +300 tons of plastic. With just one click on the app or website, 40,000 customers divide their daily waste by three, thanks to containers that are washed and reused up to 40 times.
Charles Christory, CEO and co-founder of Le Fourgon, said: “We would like to thank our investors, customers and employees for their trust and enthusiasm for this project, of which we are very proud. Throwing away glass containers in perfect condition every day, and focusing on single use packaging is nonsensical, and devastating for the environment. This new investment will enable us to continue our efforts and accelerate the democratization of reuse, such a simple and obvious gesture.”
Founded in 2021, Le Fourgon, which closed its first financing round of €4.5 million in 2022 and raised €3 million in crowdfunding earlier this year, will use this investment to expand its geographical coverage over the next months. The startup will also continue to develop its private label of returnable ranges of beverages, food and household products. Finally, it aims to develop its B2B offering and recruit new staff to support its growth. The company plans to reuse 50 million containers within the next two years.
Hervé Cuviliez, from Id4, commented: “Id4 Ventures has been an early supporter of Le Fourgon since the beginning, as we led the pre-seed round. It’s a privilege to support such a talented team that is focused on tackling a critical issue for the climate and our health: plastic pollution. For us, it was a natural step to continue the journey with Charles, Maxime, Stéphane and their team by co-leading the current Series A round. Le Fourgon is a game-changing company.”
Jessica Guerin Haue, from La Poste Ventures, added: “La Poste Ventures is delighted to invest in an impact startup. This investment will enable Groupe La Poste to extend its knowledge of the deposit market. Groupe La Poste will be able to contribute all its logistics know-how to help Le Fourgon scaling across the territory.”
Read the orginal article: https://www.eu-startups.com/2023/11/french-climate-food-tech-le-fourgon-snaps-e10-million-to-accelerate-the-democratisation-of-returnable-glass/
