Sofia-based LAM’ON, a company specialising in bio-based and compostable laminating and packaging films, has secured funding from Eleven Ventures and Grigoriy Ananiev, Managing Director at Citibank. The funding amount, however, remains undisclosed.
The capital raised will support LAM’ON’s go-to-market strategy and innovation efforts in sustainable packaging solutions. The €180B sustainable packaging market is growing, driven by EU regulations and rising consumer demand for eco-friendly solutions.
Ivaylo Simov, Partner at Eleven, says, “We are proud to support the team of LAM’ON in their quest to revolutionise the packaging industry with innovative, biodegradable solutions. Their mission aligns perfectly with our strategy to invest in sustainability and climate-focused businesses driving meaningful change.”
“We believe that the growing regulatory push, increasing consumer demand for eco-friendly products, and the immense potential of the biodegradable plastics market create a perfect environment for LAM’ON to thrive. And we are beyond excited to support their vision and help them shape a future where sustainable packaging becomes the norm.”
Providing sustainable laminating and packaging films
Founded in 2018, LAM’ON develops sustainable laminating and packaging films, offering eco-friendly alternatives to conventional plastics.
The company has introduced two flagship products, “PACK’ON Classic” and “PACK’ON Shrink”, featuring innovative, non-fossil-based formulations. These solutions deliver high performance while helping brands improve sustainability and attract environmentally conscious consumers.
PACK’ON Classic is a compostable, crystal-clear packaging film suitable for fresh produce, cosmetics, and apparel. It combines high transparency and durability with eco-friendly disposal. PACK’ON Shrink is a thermo-shrink film designed for multipacks and shipping. It provides strength, flexibility, and a sustainable option for packaging and logistics.
Capital utilisation
LAM’ON will use the funds to boost visibility and marketing, targeting new customers in Europe’s F&B, apparel, home goods, and electronics packaging sectors.
The company’s sustainable packaging solutions are gaining momentum, with adoption by key industry players, including apparel manufacturers and beer brewers, as part of their sustainability initiatives.
Gergana Stancheva, co-founder and COO of LAM’ON says, “We are incredibly excited about this investment, which will allow us to meet the growing demand for sustainable packaging solutions in industries ranging from food and cosmetics to e-commerce and electronics.”
“This funding marks a significant milestone in our journey to revolutionise the packaging industry with products that not only protect and preserve but also minimise environmental impact.”
Partnership with Eleven Ventures
LAM’ON is focused on building awareness and market presence in the bio-based and compostable packaging industry to attract early adopters and gain market share.
Its partnership with Eleven Ventures provides funding, expertise, and a network to support growth, offering strategic guidance and connections to establish LAM’ON as a leader in sustainable packaging solutions.
Angela Ivanova, co-founder and CEO of LAM’ON, says, “We are excited to reach new markets with the support of Eleven. As consumer demand for sustainable products continues to grow, LAM’ON is poised to become a leading force in the bio-based packaging sector.”
Eleven, an early-stage VC in Central Eastern Europe, has invested in over 170 startups since 2012 and has contributed to developing the regional startup ecosystem. Focusing on fintech, healthcare, the future of work, and sustainability, its portfolio includes companies like Payhawk, Dronamics, myTeam, SMSBump, and Native Teams.
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