Reusable packaging innovator BIBAK raises €6 million in latest funding round | Article

BIBAK, a solution for reusing containers in catering and events, has raised an additional €6 million in funding. The company hopes to use this new injection to capitalize on France’s recent ban on single-use packaging in restaurants and cafes.

Company backers include Founders Future, MAIF Impact, Seed One, Notus Technologies, several business angels and a new member of SWEN Capital Partners’ Blue Ocean Fund. ‍

‍With this new Series A funding, BIBAK intends above all to continue the development of a total technological solution for the reuse of containers, focused on digital deposit systems, collection devices, gamification, logistics and traceability – thanks to the recovery and exploitation of those collected during the project data returns.

Leveraging data, BIBAK markets itself as a 360° platform that simplifies the life of restaurateurs through inventory tracking, returns rate measurement, refund flow control, environmental impact quantification and real-time personalized reports, etc.

The company’s return terminals aim to adapt to the local reality and make returns easier for consumers by providing access to numerous collection points, automatic reimbursement and relieving container backflow.

A cashback and gamification solution is also integrated into existing payment systems. Incentive models, based on a playful and hands-on approach, aim to maximize container return – and rotation.

“Our mission is to initiate a broad societal movement to move from single-use to reusable products. On the one hand by establishing long-lasting operational processes and a profitable economic model for restaurateurs and on the other hand by offering a simple and fun consumer experience that makes it easier to implement a solution,” comment Yasmine Dahmane and Lucas Graffan, co-founders of BIBAK.

“BIBAK’s solution makes reuse more attractive, efficient and economical for consumers and restaurateurs than single-use use. This is the key to mass adoption and thus to a rapid and profound transition of our economy towards the circular economy. We are excited to support BIBAK in its growth and impact on the planet and our society,” adds Christian LIM, Managing Director of SWEN Blue Ocean.

BIBAK’s core area is expected to be France, where single-use packaging and cutlery from takeaways, restaurants and cafes have been banned since the beginning of this year.

More than 150 large companies already use BIBAK’s services, including Société Générale, Engie, Danone, Vinci. With more than 100,000 users and 200 partners, mainly in mass catering and fast food, as well as events at Like We Love Green and Roland-Garros, the company claims to have replaced more than 1.5 million packaging.