Bpacks, a circular economy startup developing 100% compostable bark-based packaging, has secured €1M in pre-seed funding from private investors.
👯 Founder(s):
- Mikhail Skalkin (CEO and co-founder)
- Dr. Nikolay Semenov (R&D lead and co-founder)
- Lev Bolshakov (co-founder)
📅 Founding year: 2022
🏭 Industry: Sustainable Packaging
💥 Problem: Plastic waste is a major contributor to environmental degradation, and existing biodegradable alternatives often face cost and integration challenges. Industries also need packaging solutions that can extend the shelf life of perishable products.
📣 Solution: Bpacks has developed a bark-based, 100% home-compostable material that integrates seamlessly with existing manufacturing infrastructure.
👥 Customers: Food and beverage manufacturers, FMCG retailers, cosmetics producers, and household item manufacturers looking for sustainable packaging alternatives.
🎳 Team size: 8 (including 5 R&D scientists based in Belgrade, Serbia)
🌱 Stage: Pre-seed
💰 Investment amount: €1 million
🚀 Funded by: Founders and a small group of private investors (specific names not disclosed).
💡 It will be spent on…
- Building a pellet manufacturing facility in Spain by 2025.
- Scaling the supply chain to serve plastics manufacturers and direct clients.
- Expanding operations to North America by 2026.
💪 Their specialty: The packaging is antimicrobial, extends shelf life, and is made from up to 75% industrial byproducts, including bark and used coffee grounds.
🔑 Business model: Bpacks plans to supply pelletized material to packaging manufacturers and license its technology for granule production. The company may also sell ready-made packaging directly to clients.
👩🏫 Market: The global bioplastics market (valued at $11.2 billion in 2021 and projected to reach $46.1 billion by 2030).
📊 Traction:
- Partnership with Serbian retailer Gomex (300+ stores in Southern Europe).
- Patents currently being filed for its production process.
📈 Funding: €1 million in pre-seed funding (current), with plans to raise a seed round by March 2025.
