Lumi, the U.S.-based food and beverage packaging company, has completed its first round of funding to support its goal of reducing pollution caused by the use of disposable plastics. Precisely, this company seeks to change the disposable beverage packaging industry with its revolutionary product called ‘LumiCup’.
Specifically, it is a disposable and infinitely recyclable aluminum cup, which is also the lightest on the market. The company was founded in 2021 with the purpose of fighting against the growing global use of single-use plastic by offering a more sustainable alternative to plastic cups. In addition, a large group of investors such as Innovent Group, Hydra Group and Responsibly Fund participated in this investment round. In addition, the investment will further help Lumi expand its marketing and sales capabilities by increasing brand visibility and improving customer acquisition efforts. Another key priority for the company is to establish a strong inventory and increase its production in order to fill orders in large quantities.
Lumi co-founder and CEO Kevin Diamond said:
“We started Lumi in 2021 with a singular vision: to challenge the status quo in disposable beverage containers and offer the world an eco-friendly, high-performance alternative to wasteful plastic cups.”
“Today’s announcement is a testament to our persistence, years of meticulous design engineering and the confidence of our investors. With ten million tons of single-use plastic waste coming from the 500 billion plastic cups sold worldwide each year, there is a loud and urgent call for change that we are beginning. As we prepare, we are delighted to introduce LumiCups to a world that has been waiting for genuine sustainability in food and beverage packaging.”Diamond added.
On the other hand, Lumi also has in mind to bring to the market a 2 oz ramekin called ‘LumiKin’, which will be infinitely recyclable. This product will be used as a small dish to contain sauces, dressings and garnishes in the kitchen. The company is also preparing to start shipping its products to different industries, such as hospitality, entertainment, travel and leisure, from the beginning of next year.
Starting in early 2024, the LumiCup will be available for shipment to consumers in industries such as hospitality, entertainment and travel and leisure. This environmentally friendly product aims to revolutionize the beverage packaging market, as it will be available in 9 oz., 12 oz. and 16 oz. sizes and will be suitable for serving a wide range of cold beverages.
