Le Fourgon, a French startup leading the resurgence of returnable glass bottles and containers, has announced the successful acquisition of €10M in a Series A funding round.
Le Fourgon, having already raised €4.5M in its initial financing round in 2022 and an additional €3M through crowdfunding this year, is now set on expanding its operations.
The latest investment was led by Id4 and Teampact, with additional backing from the La Poste Ventures fund – a venture initiated by La Poste and managed by XAnge. This funding round also attracted various business angels.
Hervé Cuviliez, co-founder of Id4, commented on their ongoing support: “Id4 Ventures has been with Le Fourgon from the start, leading the pre-seed round. It’s an honor to back such a dedicated team committed to addressing crucial environmental and health concerns like plastic pollution.”
He further stated, “For us, advancing to co-lead the current Series A round with Charles, Maxime, Stéphane, and their team was a logical progression. Le Fourgon is poised to be a transformative player in the industry.”
Jessica Guerin Haue, Innovation project director at La Poste Ventures, mentioned, “Groupe La Poste is poised to lend its extensive logistics expertise to aid Le Fourgon in its expansion across the region.”
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Home Delivery Service for Deposit Beverages
Launched in 2021, Le Fourgon has quickly established itself as a significant player in France, offering a wide array of local and reusable products, with daily deliveries to more than 2,000 cities.
The company has notably contributed to environmental conservation by eliminating the use of over 10 million single-use bottles and containers, thus saving upwards of 300 tons of plastic. Its ambitious goal is to repurpose 50 million containers in the coming two years.
Drawing inspiration from the traditional milkman service, Le Fourgon’s approach enables consumers to reuse containers up to 40 times, significantly reducing waste. To date, the startup has catered to over 40,000 customers, providing a variety of beverages and returnable products. These deliveries are made using electric vans and come without any shipping costs.
Le Fourgon’s product range includes beers, ciders, water, milk, juices, soft drinks, wines, household items, tea, coffee, and snacks. All these products are supplied in returnable containers and crates, emphasizing sustainability.
Funding Usage
Le Fourgon plans to utilize the newly acquired funds to expand its reach across additional regions in the upcoming months.
The company is also setting its sights on further developing its private label, which will include a range of returnable options spanning beverages, food, and household items. Additionally, Le Fourgon is looking to enhance its business-to-business (B2B) services and is gearing up to hire new staff to support these expansion efforts.
Charles Christory, the CEO and co-founder of Le Fourgon, expressed his views on the industry’s current practices, stating, “The daily disposal of perfectly good glass containers and the focus on single-use packaging are both irrational and environmentally harmful.”
He added, “This fresh influx of investment will empower us to persist in our mission and speed up the widespread adoption of reusing, a concept so straightforward yet profound.”
About the Investors
Id4 Ventures, established in 2017, is an entrepreneur-driven venture firm that collaborates with private investors, including family offices and individuals. The firm has a diverse portfolio, encompassing over 50 startups and more than 20 funds, and has invested over €100M in the European early-stage startup ecosystem.
La Poste Ventures, the corporate venture capital fund of La Poste Group, was inaugurated in June 2021 through a partnership with XAnge. The fund, endowed with €50M, commits to investing in 5 to 6 startups each year. As a minority shareholder, La Poste Ventures participates in either seed or series A funding rounds, with investment amounts ranging from €300K to €3M.
