Aluminium cup newcomer Lumi closes seeding round
Lumi, an innovative newcomer in the food and beverage packaging sector with a mission to combat the global surge in single-use plastics, has successfully closed its seed round of funding.
Lumi hopes to revolutionise the disposable beverage packaging industry with its groundbreaking product, the LumiCup – the lightest disposable and endlessly recyclable aluminium cup on the market. Founded in 2021 with a vision to combat the global surge in single-use plastic, Lumi’s innovative beverage solution offers a superior alternative to plastic cups.
Proceeds from its oversubscribed seeding round will enable Lumi to fully launch production of the LumiCup, the lightest disposable and endlessly recyclable aluminium cup on the market. Initial investors include Innovent Group, LLC, Hydra Group, LLC and Responsibly Fund, LP.
With shipments to hospitality, entertainment and travel & leisure consumers beginning in early 2024, the LumiCup is poised to disrupt the beverage packaging landscape with a environmentally conscious product available in 9 oz., 12 oz. and 16 oz. cup sizes, serving a wide variety of cold beverages.
Its cutting-edge 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 rely on single-use plastic cups for lightweight convenience, affordability, and stackability. Lumi is garnering significant attention for the LumiCup product line because it is the best alternative for customers seeking the same benefits while eliminating single-use plastic and gaining full curb-side recyclability.
Lumi will also soon introduce 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.
Kevin Diamond, co-founder and CEO of Lumi said: “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.”