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CupLOOP, an Estonian Cleantech startup, is raising €2M to scale its reusable packaging circulation system
Backers include Pipedrive & Bolt founders and SmartCap Green Fund, one of Estonia’s top VCs
Bucharest, March 30: CupLOOP, active in a market of $104.9Bn, aims to scale its reusable packaging circulation system, targeting a late seed €2M round. The Estonian startup has dedicated a €200,000 ticket on SeedBlink, an investment platform for European tech start-ups, open until the 16th of April. The CleanTech will use this investment to create the first city closed loop system this year as well as to fuel the growth towards Series A.
Founded by Marek Suchazevski, Lauri Luik and Christopher Juul in 2018, CupLOOP wants to make circulation of reusable cups, containers, and packages simpler and more effective. By planning to stem the worldwide flow of plastic waste, the startup is positioned for exponential growth following the European Union Parliament’s 2021 ban on single-use plastics where alternatives are available.
The Estonian company is digitizing reusable packaging with the help of Software as a Service and a reverse vending machine, with a patented returning process through RAIN RFID technology and unique deposit refund payment.
“The idea was to replace single-use with re-usable packaging. We see a future where there is no plastic waste, and our aim is to make our solution universal and make our machines part of a smart city infrastructure. What is interesting is that we have only reached out to our very first client in Estonia when we started, all other clients have reached out to us by themselves, which confirms that we are doing the right thing.” says founder and CTO Lauri Luik.
The startup has been backed by SmartCap Green Fund, one of Estonia’s top VCs which mainly supports local early-stage green technology companies active in energy, agriculture, food and the environment and has also received angel investments from Bolt and Pipedrive founders Martin Villig, Martin Henk , Ragnar Sass and others. CupLOOP is raising on SeedBlink to welcome European individual investors.
SeedBlink makes it possible for individual investors to make direct investments into top-tier, thoroughly screened tech startups, which were previously exclusively open to institutional investors and venture capital funds, allowing individuals to enter with as little as €2,500.
The co-investment platform has developed collaborations with prominent venture capital firms like SpeedInvest, Occident Group, IST Cube, or Elevator Ventures.
SeedBlink has so far contributed to ESG funding, having among its portfolio companies' Austrian circular economy startup R-Create, as well as Dutch Productpine, that fully offsets the CO2 emissions of every single product they sell via their maketplace.
Recently, SeedBlink shifted towards a Nominee operating model, based in Austria for its easy and friendly management of equity investment projects, focusing on follow-ons and secondaries.
About CupLOOP
CupLOOP is an Estonian startup that aims to make circulation of reusable cups, containers, and packages simpler and more effective.
About SeedBlink
SeedBlink is a tech specialized venture investment platform that enables business leaders to fund top-tier European tech startups and scale-ups alongside established institutional investors.
SeedBlink Crowd SA is registered in the Register of the Romanian Financial Supervisory Authority (ASF), under number PJR28FSFPR/400001 as of 03.11.2022 with an EU passport as per European Securities and Market Authority (ESMA) register of crowdfunding services providers. Contact at email: press@seedblink.com.
PublishedMarch 31, 2023
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