Zagreb-Based Fasal Bio Raises €7M To Develop Renewable Plastic Alternatives

The deal marks BlackPeak Capital’s first direct investment in Croatia. The Bulgaria-based private equity firm focuses on growth equity investments between €5–20 million in fast-growing companies across Southeast and Central Europe, and currently manages two funds with €150 million in assets under management.

Founded in 2012 by Krešimir Hagljan, Fasal Bio develops Naturion™, a proprietary composite material made from wood and renewable natural raw materials. The material is compatible with existing thermoplastic processes such as injection moulding and extrusion, enabling industrial-scale adoption without new infrastructure.

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The company integrates material innovation with product design, prototyping and manufacturing, helping partners move quickly from concept to market as global regulations on conventional plastics tighten and sustainability requirements increase.

Fasal Bio’s products are used across categories including animal chewables, children’s toys and games, household goods, and clothes hangers, with proprietary brands such as D-Bone and FORMIQ.

Its materials are also used in commercial production for leading international brands across the US and Western Europe.

With the fresh capital, the company plans to expand production capacity and invest in commercial and R&D functions. BlackPeak Capital plans to work closely with Fasal’s team to accelerate international growth and extend the reach of the Naturion™ platform. It also plans to hire new employees in Zagreb.

Krešimir Hagljan, Founder and CEO, Fasal Bio, said, “We have spent years building the capability to reduce reliance on fossil-based plastics in real world production, not just through innovation, but by making it work at scale. This investment is a turning point for Fasal Bio.”

About Fasal Bio

Fasal Bio develops products and brands using a new generation of plant-based materials. The company creates scalable, renewable material solutions designed for industrial use enabling sustainable alternatives to conventional plastics while supporting real-world applications across multiple consumer and commercial product categories.