France

[Funding alert] French-based Climate Food Tech Le Fourgon Secures €10 Million in Series A Round Funding

Nov 15, 2023 | By Startup Rise EU

Le Fourgon, a climate food technology company based in France, has raised €10 million from a number of business angels, the La Poste Ventures fund (managed by XAnge and launched by La Poste), and its primary backers, Id4 and Teampact.

Le Fourgon, a climate food technology company based in France, has raised €10 million from a number of business angels, the La Poste Ventures fund (managed by XAnge and launched by La Poste), and its primary backers, Id4 and Teampact.

Le Fourgon, often known as "The Van," has been offering a variety of local and returnable products delivered door-to-door in over 2,000 French cities every day for the past 2.5 years. The company has contributed to the avoidance of +10M single-use bottles and containers since its founding, saving +300 tonnes of plastic.

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Thanks to containers that are cleaned and reused up to 40 times, 40,000 clients divide their daily waste by three with only one click on the app or website.

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Charles Christory, CEO and co-founder of Le Fourgon, said: “We would like to thank our investors, customers and employees for their trust and enthusiasm for this project, of which we are very proud. 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.”

Hervé Cuviliez, from Id4, commented: “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, from La Poste Ventures, added: “La Poste Ventures is delighted to invest in an impact startup. This investment will enable Groupe La Poste to extend its knowledge of the deposit market. Groupe La Poste will be able to contribute all its logistics know-how to help Le Fourgon scaling across the territory.”

About Le Fourgon

Le Fourgon, a 2021 startup that received €3 million through crowdfunding earlier this year and concluded its first financing round of €4.5 million in 2022, plans to use this investment to broaden its geographic reach over the coming months.

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The business will also keep expanding its private label line of returnable food, drink and home goods. Lastly, in order to support its expansion, it wants to expand its B2B offering and hire more employees. Within the next two years, the business intends to reuse 50 million containers.

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