JUUNOO, a Belgian startup developing sustainable partition walls, has raised €6.6m (£5.6m) in Series A funding, which is a mix of capital increase, loans, and grants.
Every year, $320bn (£274bn) worth of partition walls are wasted worldwide, the startup says.
In response, JUUNOO has developed 100% circular wall partitions that can easily be dismantled and rebuilt or, after use, sold back to the company upfront for cash, and then resold at a profit.
Now JUUNOO looks to use the fresh capital to expand its operations to the Netherlands, Denmark, and the United States, with plans to be active in six countries by 2024. The company recently opened its New York office this month.
“This capital injection is another step in our company’s mission. We want to make circularity the standard in partition walls,” said JUUNOO’s Founder, Chris Van de Voorde, who is currently in the US seeking backing from new American investors.
“We are driven not only by our unique position to bring an excellent product to market, but to demonstrate how the construction industry can actively participate in a circular economy and stimulate others to innovate and join in,” he added.
Image: JUUNOO’s Founder, Chris Van de Voorde (credit: JUUNOO)
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