Estonian packaging startup RAIKU raises an €8.8M Seed round to replace bubble wrap with sustainable wooden springs

RAIKU specialises in creating sustainable, protective, and entirely natural packaging materials with an exceptionally low CO2 footprint, aimed at addressing the pressing issue of packaging waste ending up in landfills and nature. Here are details of RAIKU‘s latest funding round :

🚀 Launch

2021

🏭 Industry

Packaging

🧠Management

Karl Pärtel (Co-founder), Rain Randsberg (Co-founder)

💸 Funding & Investors

INVESTMENT (Novembre 2023)€8.8 million (Seed)
INVESTORS (Novembre 2023)€5.65 million grant from the European Innovation Council (EIC) and €3.15 million in investments from private sector investors

🎯 Funding purpose

Advance its chemical-free and compostable packaging material technology, establish its first factory, and expand production on a global scale.

🌐 Country HQ

Estonia (Tallinn)

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