The reusable food container industry is about to get a major boost. French startup Bibak, formerly known as GreenGo La Consigne, has raised $6.4 million (€6 million) in its latest equity funding round and debt. This new capital injection will expand the uptake of reusable food containers, reducing the reliance on single-use plastic packaging.
The round was backed by several investors, including Founders Future, MAIF Impact, Seed One, Notus Technologies SWEN Capital Partners’ Blue Ocean fund, and several business angels. The round was closed in November 2022.
The timing of this investment coincides with a major shift in French regulations. Starting January 1st, 2023, all restaurants will have to offer reusable food containers to customers. This places Bibak at a major competitive advantage, as the company is well-positioned to take advantage of this new regulation.
“The new regulation changes the playing field for the reusable food container industry,” said co-founder and CEO Yasmine Dahmane. “We are well-positioned to capitalize on this opportunity by offering innovative and cost-effective solutions for restaurants and consumers.”
The company plans to use its funding to develop and refine its software stack, as well as expand its services to more restaurants and customers across France.
Bibak’s mission is to make reusable food containers available and accessible to everyone, ultimately eliminating the need for single-use plastic packaging. The company’s vision is to build a future where the environment and sustainability are top priorities, creating a healthier and greener world.