Bulgarian LAM’ON secures investment to accelerate bio-based packaging solutions

LAM’ON, a pioneer in bio-based and compostable laminating and packaging films, announces a strategic investment from Eleven Ventures and Grigoriy Ananiev, Managing Director at Citibank. The funding comes as the €180 billion global sustainable packaging market sees unprecedented growth, driven by EU regulations and increasing consumer demand for eco-friendly solutions. 

“We are incredibly excited about this investment, which will allow us to meet the growing demand for sustainable packaging solutions in industries ranging from food and cosmetics to e-commerce and electronics,” said Gergana Stancheva, Co-founder and COO of LAM’ON. “This funding marks a significant milestone in our journey to revolutionise the packaging industry with products that not only protect and preserve but also minimise environmental impact.” 

LAM’ON – first of its kind compostable film

Founded in 2018, LAM’ON has dedicated six years to pioneering research and development in the field of sustainable films and established an innovative production method and recipe, capable of truly disrupting the print and packaging landscape. The company has already made substantial progress in offering eco-friendly alternatives to conventional plastic packaging. Earlier this year, LAM’ON successfully launched two of its flagship products from their packaging line: 

• PACK’ON Classic is a crystal-clear, compostable packaging film that offers a sustainable alternative to conventional plastic. Ideal for fresh produce, cosmetics, and apparel, PACK’ON Classic delivers high transparency, durability, and an environmentally friendly disposal option. 
• PACK’ON Shrink is a thermo shrink film designed for multipacks and product protection during shipping and logistics. Offering exceptional strength and flexibility, it is a cost-effective, eco-conscious solution for packaging and distribution. 

LAM’ON ensures high performance without reliance on fossil-based plastics, enabling brands to enhance their sustainability credentials and to appeal to environmentally conscious consumers. With sustainability concerns remaining top of mind, players are committing themselves to ambitious targets in terms of their production and packaging, while the EU is also driving developments in this area with legislation such as its Plastics Levy.  Sustainable packaging is now a topic in every aspect of our lives and is associated with almost every product we use. It was the fourth largest market in 2023, reaching over $ 180 billion in retail value sales globally. 

LAM’ON’s growing visibility in Europe

The investment will be directed towards enhancing LAM’ON’s visibility and ramping up marketing efforts to engage new customers across Europe’s food and beverage, apparel and accessories, home goods and electronics packaging markets. The company’s products are already seeing positive reception, with several key industry players producing apparel and beer brewers, embracing the switch to sustainable alternatives as part of their broader sustainability initiatives. 

As a new player in the market, standing out as a trusted, innovative, and eco-conscious brand is key for long-term success. Still as a new player in the bio-based and compostable packaging industry, creating awareness and establishing presence quickly is crucial to gaining early adopters and building market share. For LAM’ON, the partnership with Eleven Ventures will bring not only essential funding support but also invaluable expertise and a vast network, providing the team with strategic guidance, market insights, and connections to accelerate growth and solidify its position as a leader in sustainable packaging solutions. 

“We are proud to support the team of LAM’ON in their quest to revolutionize the packaging industry with innovative, biodegradable solutions. Their mission aligns perfectly with our strategy to invest in sustainability and climate-focused businesses driving meaningful change. We believe that the growing regulatory push, increasing consumer demand for eco-friendly products, and the immense potential of the biodegradable plastics market create a perfect environment for LAM’ON to thrive. And we are beyond excited to support their vision and help them shape a future where sustainable packaging becomes the norm,” shares Ivaylo Simov, Partner at Eleven Ventures.