France-based Le Fourgon, a startup making strides in the revival of returnable glass bottles and containers, announced that it has raised €10M in a Series A round of funding.
Having previously secured €4.5M in its first financing round in 2022 and an additional €3M through crowdfunding this year, Le Fourgon is aiming for expansion.
The investment came from Id4 and Teampact, along with support from the La Poste Ventures fund – initiated by La Poste and managed by XAnge. The round also saw the participation of various business angels.
Hervé Cuviliez, co-founder of Id4 says, “Id4 Ventures has been an early supporter of Le Fourgon since the beginning, as we led the pre-seed round. It’s a privilege to support such a talented team that is focused on tackling a critical issue for the climate and our health: plastic pollution.”
“For us, it was a natural step to continue the journey with Charles, Maxime, Stéphane and their team by co-leading the current Series A round. Le Fourgon is a game-changing company.”
Jessica Guerin Haue, Innovation project director at La Poste Ventures adds, “Groupe La Poste will be able to contribute all its logistics know-how to help Le Fourgon scale across the territory.”
Delivery of deposit drinks at home
Founded in 2021, Le Fourgon claims to have become a key player in France, offering a diverse range of local and reusable products delivered daily to over 2,000 cities.
The company has made an environmental impact by preventing over 10 million single-use bottles and containers, saving more than 300 tons of plastic. It plans to reuse 50 million containers within the next two years.
Inspired by the milkman model, Le Fourgon’s initiative allows consumers to use containers up to 40 times, minimising waste. The startup has already served over 40,000 customers with a range of beverages and returnable products, delivered in electric vans with no-cost shipping.
The items include beers, ciders, water, milk, juices, soft drinks, wines, household products, tea, coffee, and snacks—all in returnable containers and crates.
Capital utilisation
Le Fourgon will use the funds to broaden its geographical reach in the coming months.
Additionally, the startup will focus on further developing its private label, encompassing returnable options for beverages, food, and household products. The startup also aims to enhance its B2B offerings and intends to recruit new personnel to bolster its growth initiatives.
Charles Christory, CEO and co-founder of Le Fourgon says, “Throwing away glass containers in perfect condition every day, and focusing on single-use packaging is nonsensical, and devastating for the environment.”
“This new investment will enable us to continue our efforts and accelerate the democratization of reuse, such a simple and obvious gesture.”
Brief about the investors
Id4 Ventures is an entrepreneur-led venture firm collaborating with private investors such as family offices and individuals. Founded in 2017, the firm’s portfolio spans 50+ startups and 20+ funds, deploying over €100M in the European early-stage ecosystem.
La Poste Ventures, the Corporate VC fund of La Poste Group, was launched in June 2021 in partnership with XAnge. With an endowment of €50M, the fund invests in 5 to 6 startups annually as a minority shareholder during seed or series A stages, with investment tickets ranging from €300K to €3M.