Lumi secures seed funding to revolutionize disposable packaging industry with LumiCup

Lumi, an innovative newcomer in the food and beverage packaging sector with a mission to combat the global surge in single-use plastics, announced the closing of its seed round of funding. Proceeds from its 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 & leisure consumers beginning in early 2024, the LumiCup is poised 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. 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 curbside 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. All of these products allow consumers to be Conscious Without Compromise.

Kevin Diamond, Co-founder and CEO, Lumi: "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."

LumiCups have demonstrated true sustainability from both a materials and carbon footprint perspective. 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.

Funds from Lumi's seed round will be used to expand marketing and sales, build inventory and enhance product development.

www.lumicup.com