Lactips, the industrial start-up, specialising in the conception and the production of a water soluble and biodegradable plastic raw material made of milk protein, has closed a capital increase of €3.7 million (approximately £3.3million).
After four years of intense development, the company says this transaction is the reward and will enable Lactips to invest in the industrialisation and the commercialisation as well as to continue the product development to achieve strong growth.
This fundraising was signed by Demeter, Emertec 5 funds, BASF Venture Capital, BNP Paribas Development and Crédit Agricole Loire Haute-Loire Capital Innovation.
“We are pleased to contribute to Lactips’ financing round, our first venture capital investment in France”, said Markus SOLIBIEDA, Managing Director, BASF Venture Capital.
“Sustainability is one major pillar of BASF’s strategy that we are working to integrate increasingly in all our business processes. With our investment in Lactips we intend to support the market-entry of their innovative products and we are looking forward to join the management team of Lactips in creating a success on the market.”
BNP Paribas Développement, added: “We are happy to walk with Lactips in this new stage of its development. We have followed up the project for several months through different BNP Paribas initiatives in innovation support. This new round allows Lactips to deploy its offer at a large-scale to deliver a new biosourced and economically credible plastic generation.”