Estonian greentech startup Raiku Packaging has been selected as one of 13 companies to join the L’Oréal Sustainable Innovation Accelerator, a programme that aims to invest more than €100 million over five years to identify, develop, pilot and scale breakthrough technologies.
Raiku was selected from more than 1,000 applicants worldwide, the company said in a statement, noting that the accelerator has an acceptance rate of just one per cent.
The Estonian company has developed a 100 per cent natural packaging material offering “luxurious aesthetics and excellent shock absorption”.
According to Raiku, the material has one of the lowest carbon footprints in the world, as the company has introduced a radically more efficient production process than those used in traditional industries, reporting a reduction of more than 90 per cent in resource use.
The startup already counts clients such as LVMH and has secured backing from some of Europe’s most competitive funding instruments, including €5.6 million in support from the European Innovation Council.
Accelerating breakthrough technologies
“It is widely regarded as a strategic technology for reducing EU and global packaging pollution in a safe and compostable way,” the company says.
The L’Oréal Sustainable Innovation Accelerator forms part of a €100 million investment over five years aimed at accelerating breakthrough technologies across the beauty value chain.
The initiative addresses key industry challenges, including sustainable ingredients, alternative packaging materials, low-impact manufacturing and the elimination of fossil-based plastics.
Delivered in partnership with the Cambridge Institute for Sustainability Leadership, the 12-month programme supports pilot development, operational readiness and real-world deployment.
Participating companies receive tailored support, including up to 12 hours of one-to-one mentoring and coaching from global leaders in sustainability, innovation and industry.
