Lumi – an innovative newcomer in the food and beverage packaging sector with a mission to combat the global surge in single-use plastics – recently announced that it successfully closed its seed round of funding. The proceeds from the oversubscribed round will enable Lumi to fully launch production of the LumiCup, the lightest disposable and endlessly recyclable aluminum cup on the market. Initial investors include Innovent Group, LLC, Hydra Group, LLC, and Responsibly Fund, LP.
With shipments to hospitality, entertainment, and travel and leisure consumers starting in early 2024, the LumiCup is expected to disrupt the beverage packaging landscape with a truly environmentally conscious product available in 9 oz., 12 oz., and 16 oz. cup sizes – serving a wide variety of cold beverages. Plus, its design will make the LumiCup the most lightweight alternative to single-use plastic cups on the market while also accommodating standard-size lids. Many of the world’s largest hospitality enterprises like hotels, airlines, festivals, and specialty beverage chains depend on single-use plastic cups for lightweight convenience, affordability, and stackability. Lumi is also gaining attention for the LumiCup product line since it is the best alternative for customers seeking the same benefits while eliminating single-use plastic and gaining full curbside recyclability.
Lumi will also soon launch the first infinitely recyclable 2oz. ramekin called the LumiKin – designed to replace single-use plastic ramekins with a superior alternative to hold sauces, dressings, and garnishes. All these products allow consumers to be Conscious Without Compromise.
LumiCups demonstrated true sustainability from both a materials and carbon footprint perspective. The aluminum recycling uses just 5% of the energy required for primary milling, and is infinitely recyclable – nearly 75% of all aluminum ever produced is still in use today.
The funds from Lumi’s seed round will:
– Expand Marketing and Sales – Increasing brand visibility and scaling customer acquisition efforts.
– Build Inventory – Ramping output to fulfill large orders.
– Enhance Product Development – Develop additional beverage package options.
KEY QUOTES:
“We started Lumi in 2021 with a singular vision: to challenge the status quo in disposable beverage packaging 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 10 million tons of single-use plastic waste coming from the 500 billion plastic cups sold globally every year, there is a loud and urgent call for the change we’re starting. As we gear up, we’re delighted to introduce LumiCups to a world that’s been waiting for genuine sustainability in food and beverage packaging.”
- Kevin Diamond, Co-Founder and Chief Executive Officer of Lumi
“We’re excited to back this remarkable team, and the massive problem they are attacking with single-use containers we currently see in the market.”
- Zécca Lehn, General Partner, Responsibly Fund, LP.
