7 million euros to stop the single-use cup in business

——————– ADVERTISING ——————–

Propelled into the market thanks to its patented cleaning technology, the startup Auum mobilizes the recent fundraising to finance a new production center of 1300m² in the Paris region.

This is a lightning commercial start for Auum. The impactful industrial startup, founded in 2019 under the acronym Auum for “Let’s stop Single Use Now”, launched the “auum-S” cleaning solution last August. Success at the rendezvous, the company is carrying out a funding round of 7 million euros with Starquest, Founders Future, MAIF Impact and Foodles, in order to support the marketing of its alternative and ecological technology.

As its name suggests, the company’s leitmotif is the fight against single use and particularly disposable cups. After three years of research and development, the company has succeeded in developing a cleaning solution capable of disinfecting and drying a glass in a few seconds with only 2 cl of water and without chemicals. “For comparable use, the patented technology developed by auum uses 76 times less water than the dishwasher and generates 58 times less CO2 than the paper cup, guaranteeing total disinfection”, Auum points out.

This solution resonates with customers from all industries and of all sizes. Around a hundred B2B customers, including nearly a third of CAC 40 companies such as Kering, L’Oréal, Engie, Saint Gobain, Boursorama and Air Liquide, have been won over by auum-S. “To date, the total value of contracts signed in the first full year by all of its customers exceeds 4 million euros, or nearly 500 auum-S machines”says the company.

Conquering new markets

With its fundraising, Auum intends to capitalize on very strong commercial traction to reach 1,000 machines signed by the end of 2022, and double in 2023. To do this, the company will invest in priority in a new production center of 1300m² in the Paris region and will finance an assembly line.

The startup does not intend to stop on such a good path. Once it has conquered the French market, Auum announces a first opening on the European market with Switzerland, the Netherlands, Belgium and Luxembourg. It thus aims to continue its expansion by establishing itself in new markets, starting in 2023.

Leave a Comment