The Stuttgart-based start-up Proservation, a manufacturer of ecological packaging solutions based on grain husks, has successfully completed its seed financing round and received seven-digit capital. The aim is to put its own demonstration plant into operation this year.
In a financing model as part of the InnoGrowth BW programme L-Bank Baden-Württemberg has provided the company with fresh capital in the seven-figure range: Proservation is probably the first industrially orientated hardware start-up ever to successfully implement a financing concept at this level and early stage that corresponds to the principles of steward-ownership. A model was chosen that focuses on long-term values instead of short-term exit logic.
In order to produce the natural packaging material Recou on an industrial scale for the first time, Proservation is planning to to put its own demonstration plant into operation this year. It forms the basis for a Scalable production of biogenic packaging solutions - with the goal, replace conventional plastics such as polystyrene in large quantities wherever possible in future. By utilising residual materials from grain processing, Proservation pursues a consistently cycle-oriented approach and sets new impulses in the direction of a bio-economic circular packaging industry.
Founded in November 2022, the start-up develops natural cushioning materials made from grain husks - the husks of cereal grains - which serve as an ecological alternative to conventional protective packaging such as polystyrene. The innovative material Recou is completely bio-based, compostable and produced regionally.
Financing was provided by the programme's accredited intermediary EurA Venture GmbH, which has a Investor consortium of experienced business angels and strategic partners of the start-up. The consortium reflects a strategically sound alliance along the industrial value chain.
Source: Proservation
