1 The EIC Accelerator Project
The EIC Accelerator program is a significant funding initiative within the European Innovation Council (EIC), aimed at supporting small and medium-sized enterprises (SMEs) and startups that are developing innovative technologies and solutions. This program is particularly focused on DeepTech sectors, which include advanced technologies and scientific innovations that address complex challenges in areas such as sustainability, health, and digital transformation. The EIC Accelerator provides financial support through a combination of grants and equity investments, enabling companies to scale their innovations and effectively bring them to market.One of the key features of the EIC Accelerator program is its funding structure. It offers a grant of up to €2.5 million to cover project costs, which can be used for various activities such as research and development, prototyping, and market introduction. Additionally, the program provides equity funding, which has evolved over time. Until 2024, companies can access equity investments of up to €15 million, and this amount will be reduced to €10 million starting in 2025. The equity funding aspect is critical, as it allows startups to attract private sector investments by demonstrating the viability of their projects, thereby enhancing their capacity to scale operations and increase market presence.
The primary purpose of the EIC Accelerator is to foster innovation and entrepreneurship within the European ecosystem, particularly in the DeepTech and startup landscape. By providing substantial financial support, the program aims to bridge the gap between early-stage funding and larger-scale investments that are often necessary for scaling innovative technologies. The EIC Accelerator also offers a platform for startups to connect with investors, business partners, and mentors, facilitating their growth and development in competitive markets.
A notable winner of the EIC Accelerator is LAM'ON, a Bulgarian company recognized for its innovative project FOIL'ON. This initiative focuses on the development and production of biodegradable laminating film, branded as LAM'ON, and packaging foil called PACK'ON. The primary objective of the FOIL'ON project is to significantly reduce plastic pollution by providing sustainable alternatives to conventional plastic films used in packaging and laminating.
The technology behind FOIL'ON involves the creation of biodegradable materials that can decompose naturally in composting environments, thereby minimizing environmental impact. These films are designed to maintain functionality similar to traditional plastic laminates, ensuring that they meet the quality and performance standards required in various applications, such as food packaging and protective coverings. The innovation lies in the formulation of the materials used, which are derived from renewable resources, offering a sustainable solution to one of the pressing challenges of modern packaging: the reduction of plastic waste.
LAM'ON's project aligns with global efforts to combat plastic pollution and promote sustainable packaging solutions. By receiving funding through the EIC Accelerator, LAM'ON is positioned to advance its research, enhance production capabilities, and expand its market reach. The support from the EIC Accelerator not only validates LAM'ON's innovative approach but also provides a pathway for the company to secure additional private investments, facilitating its growth in a highly competitive industry.
In summary, the EIC Accelerator plays a vital role in empowering innovative companies like LAM'ON, providing them with the necessary resources to scale their technologies and contribute positively to environmental sustainability through projects like FOIL'ON. The program exemplifies the European Union's commitment to fostering a robust ecosystem for innovation that addresses both economic and ecological challenges. For more information about LAM'ON and its initiatives, visit their website at lam-on.com.
2 The Funding Rounds
LAM'ON Funding and Investment Activity Since EIC Accelerator Award
Overview
LAM'ON, a Bulgarian startup specializing in bio-based and compostable laminating and packaging films, has shown significant progress in securing financing and expanding its investor base since receiving the EIC Accelerator grant in October 2021. The company’s mission is to provide eco-friendly alternatives to traditional plastic packaging for industries such as fresh produce, cosmetics, apparel, logistics, food, e-commerce, and electronics.
Funding Raised
- In December 2024/January 2025, LAM'ON raised a pre-seed investment round totaling €500,000.
- Before this round:
- October 2021: LAM'ON was awarded an EIC Accelerator grant of €1.2 million from the European Innovation Council.
- February 2020: The company received €150k from Angeles Investments.
Funding Rounds: Timing & Amounts
| Date | Type/Stage | Amount | Investors |
|---|---|---|---|
| Feb 2020 | Angel Investment | €150k | Angeles Investments |
| Oct 2021 | Grant | €1.2m | European Innovation Council (EIC) |
| Dec 2024/Jan25 | Pre-seed Round | €500k | Eleven Ventures (lead), Grigoriy Ananiev |
Investor Information
- Eleven Ventures: A Sofia-based venture capital firm focusing on early-stage investments ranging typically from €250k to €1m (with potential follow-ons up to €2.5m).
- Grigoriy Ananiev: Managing Director at Citibank; participated as an angel investor in the latest round.
- Angeles Investments: Participated with early-stage funding (€150k) in February 2020.
Use of Funds & Strategic Focus
The most recent funding will accelerate go-to-market activities across Europe with a particular focus on Western/Northern Europe and Italy over the next year. The company aims for international expansion to the US and Southeast Asia starting from 2026 onwards. Proceeds are allocated toward boosting sales efforts after six years of R&D work—supporting marketing efforts to attract new customers within food/beverage, apparel/fashion/home goods/electronics sectors—and product development for new sustainable packaging formulations.
Company Valuation & Financials
No public disclosures are available regarding LAM’ON’s post-money or pre-money valuations for any rounds concluded since their EIC win. Dealroom references only indicate total grant/funding amounts but omit specific valuation figures or multiples.
Exit Events (IPO / Buyouts / Acquisitions)
As of April 23rd, 2025:
- There have been no reported IPOs.
- There are no records of buyouts or acquisitions involving LAM’ON.
Summary Table: Key Funding Events
| Date | Event | Amount | Lead Investor(s) |
|---|---|---|---|
| Feb 2020 | Angel Round | €150k | Angeles Investments |
| Oct 6th, '21 | EIC Grant | €1.2m | European Innovation Council |
| Dec '24-Jan '25 | Pre-seed Equity Round | €500k Eleven Ventures (lead), Grigoriy Ananiev |
No exit events or announced valuations have been reported through April 23rd of this year.
Sources
- Bulgaria -based LAM'ON has Secured Investment - Startup Rise EU
- Bulgarian LAM'ON: “Sustainability is a Long Game That Requires ...”
- Sofia-based LAM'ON secures €500k for its eco-friendly packaging ...
- Lam'on company information, funding & investors - Dealroom.co
- Bulgarian LAM'ON secures €500k from Eleven Ventures - AIN.Capital
- Lam'on company information – Dealroom Hungary edition
- LAM’ON raises investment for bio-based packaging solutions – Tech.eu
3 The Press Releases
LAM'ON, a Bulgarian company and winner of the EIC Accelerator funding after submitting their Step 2 proposal on October 6, 2021, is focused on bio-based and compostable laminating and packaging films. Since receiving the EIC Accelerator support, LAM'ON has made notable advancements in sustainable packaging solutions.Key Developments and Innovations
- Product Launches: LAM'ON launched two flagship products:
- PACK'ON Classic: A crystal-clear compostable packaging film offering a sustainable alternative to traditional plastic films. It targets industries such as fresh produce, cosmetics, and apparel by providing high transparency, durability, and environmentally friendly disposal.
- PACK'ON Shrink: A thermo shrink film designed for multipacks and product protection during shipping. It offers strength, flexibility, cost-effectiveness alongside eco-conscious benefits suitable for logistics applications.
- Sustainability Focus: The company's offerings emphasize sustainability amidst increasing regulatory pressures like the EU Plastics Levy. Their biodegradable films are adopted by key industry players in apparel manufacturing and beverage production as part of broader sustainability initiatives.
Partnerships & Investment
- In December 2024, LAM'ON raised investment from Eleven Ventures along with investor Grigoriy Ananiev. This funding aims to help meet growing demand for sustainable packaging across European markets including food & beverage, apparel & accessories, home goods, and electronics sectors.
- Eleven Ventures highlighted that regulatory trends combined with rising consumer demand create an ideal environment for LAM’ON’s growth in biodegradable plastics.
Marketing & Business Strategy
- The recent investment enables LAM’ON to boost marketing efforts significantly to engage new customers across multiple industries committed to sustainability goals.
- The company positions itself at the intersection of cutting-edge bio-based technology innovation with commercial scalability driven by evolving environmental policies in Europe.
Public Communications
In summary, since winning EIC Accelerator funding in late 2021,LAM’ON has successfully developed advanced bio-based compostable packaging materials with strong market reception supported by strategic investment partnerships aimed at expanding their footprint across Europe’s green packaging industry.
Sources
4 The Technology Advancements
LAM'ON is a Bulgarian company specializing in bio-based and compostable laminating films and packaging foils, aiming to provide sustainable alternatives to conventional plastic packaging primarily made from polylactic acid (PLA) derived from corn. Since receiving the EIC Accelerator funding on October 6, 2021, LAM'ON has made significant advancements in technology development, product portfolio expansion, market entry, and commercialization efforts.Current Capabilities and Technology
- Product Range: LAM'ON currently offers a diversified product line of biodegradable packaging films including:
- LAM’ON Soft Gloss – a warm laminating film for paper and cardboard.
- PACK’ON Classic – a versatile packaging film suitable for fresh produce, cosmetics, clothing/textiles.
- PACK’ON Oxygen – an oxygen barrier film ideal for vacuum packaging protecting products from external influences.
- PACK’ON Shrink – heat-shrinkable protective film for transport logistics.
- Technology Features: Their films match the performance characteristics of traditional plastic films but are fully biodegradable and compostable without requiring recycling. The production uses standard polymer extrusion equipment with specialized recipes developed over years of R&D led by co-founder Dr. Filip Ublekov to improve material flexibility and durability while eliminating VOC emissions during manufacturing.
- Sustainability Focus: The company emphasizes low environmental impact through circular economy principles by reusing production waste material via granulating machines. This aligns with EU sustainability goals like the Circular Economy Action Plan.
Advancements Since Receiving EIC Accelerator Funding
- After securing €1.28 million from the EIC Accelerator program early in 2022 (following prior smaller grants), LAM'ON launched its commercial products on the market around mid-2024 after more than six years of intensive R&D activities focused on scalable bio-based packaging solutions.
- The company expanded its product portfolio beyond initial prototypes to include multiple recipes tailored for different industrial needs such as laminating papers or shrink-wrapping goods.
- They have improved process efficiency by reducing production steps (thus lowering energy consumption) while maintaining high quality at competitive prices relative to other bioplastics.
Market Demonstration & Commercialization
- LAM'ON's products are actively used commercially within Bulgaria by several clients including local craft beer producers and apparel brands such as a Bulgarian sock manufacturer.
- Their business model is B2B selling directly to manufacturers and traders across various sectors—food & beverage, cosmetics, apparel, home goods—targeting European markets initially with plans for international expansion via licensing or partnerships especially into US and Asian markets.
- Investments secured at end of 2024 (€500K) support marketing efforts aimed at scaling customer acquisition across Europe emphasizing growing consumer demand for sustainable alternatives.
Intellectual Property & Scientific Contributions
There is no publicly available information indicating new patent filings or published scientific studies or whitepapers specifically attributed to LAM'ON since their receipt of EIC funding. However:
- The company's technological foundation includes proprietary formulations developed over many years under Dr. Filip Ublekov’s scientific leadership focusing on improving PLA properties suitable for industrial applications.
- Given their active R&D pipeline mentioned publicly ("several recipes developed" but requiring time), ongoing patent activity or publications may be forthcoming but remain undisclosed so far.
Summary
Since obtaining EIC Accelerator funding in October 2021:
- LAM'ON has successfully transitioned from R&D stage into commercial production with multiple bio-based biodegradable laminate films launched.
- They have demonstrated their technology through real-world use cases with paying customers in Bulgaria’s food/beverage/apparel sectors.
- Product innovation continues internally aiming at expanding offerings while maintaining compatibility with existing industrial processes without additional equipment changes.
- Investment rounds post-EIC funding support aggressive growth plans targeting broader European market penetration supplemented by strategic partnerships/licensing abroad.
No public records indicate new patents or academic publications released since then; however ongoing development suggests continued innovation within proprietary boundaries.
Sources
5 The Partnerships and Customers
LAM'ON: A Bulgarian Innovator in Sustainable Packaging
Introduction to LAM'ON
LAM'ON, a Bulgarian company, has garnered significant attention for its innovative bio-based packaging solutions. Having received the EIC Accelerator funding in October 2021, the company has since focused on expanding its presence in the European market with eco-friendly alternatives to conventional plastic packaging.
Partnerships and Customers
LAM'ON has recently secured investments from Eleven Ventures and Citibank MD, which will enhance its visibility and boost marketing efforts across Europe. This investment aims to engage new customers in industries such as food and beverage, apparel, and electronics, where there is a growing demand for sustainable packaging solutions.
New Partners
- Eleven Ventures: This investment partnership will help LAM'ON expand its marketing efforts and increase its visibility in various European markets.
- Citibank MD: Participated in the investment round, supporting LAM'ON's growth strategy.
New Customers
While specific new customer names are not detailed, LAM'ON's products have seen positive reception from several key industry players in apparel and beer brewing, who are embracing sustainable packaging alternatives as part of their broader sustainability initiatives.
Nature and Purpose of New Relationships
The partnerships with Eleven Ventures and Citibank MD are focused on scaling LAM'ON's operations and marketing efforts. These relationships will position LAM'ON as a leader in sustainable packaging solutions across Europe, leveraging the growing demand for eco-friendly products and the push from regulatory bodies towards sustainable practices.
Impact on Market Positioning
By securing these partnerships, LAM'ON will strengthen its market presence in Europe, particularly in sectors where sustainability is becoming a critical factor in consumer choice and regulatory compliance. This strategic positioning will help LAM'ON capitalize on the increasing demand for biodegradable packaging solutions, potentially setting it up for further expansion and growth.
Technology Advancements and Scaling
LAM'ON's recent product launches, including PACK'ON Classic and PACK'ON Shrink, demonstrate its focus on innovative technology. These products offer high transparency, durability, and environmental friendliness, which are crucial for scaling in the packaging industry. The investment secured will likely be used to further enhance these technologies and increase production capacity to meet the growing demand for sustainable packaging solutions.
Conclusion
LAM'ON's strategic partnerships and investments have poised it for significant growth in the sustainable packaging sector. By leveraging these relationships, the company is well-positioned to expand its market share in Europe and further develop its innovative packaging solutions.
Sources:
- Eleven Ventures and Citibank MD Invest in LAM'ON's Green Packaging
- LAM'ON Raises Investment for Bio-Based Packaging Solutions
6 The Hiring and Company Growth
LAM'ON, a Bulgarian company specializing in bio-based and compostable thermal laminating films and packaging foils, has been steadily growing since receiving the EIC Accelerator funding following their Step 2 proposal submission in October 2021. The company is recognized for its sustainable alternatives to petroleum-based plastics used in the printing and packaging industry, targeting sectors like garments, cosmetics, food, and luxury packaging.Current Team Size and Growth
As of recent data available (circa 2024), LAM'ON's team size is approximately 10 employees headquartered in Sofia, Bulgaria. Since its founding in 2018 through to after securing EIC funding post-2021, the company appears to have maintained a relatively small but specialized team focused on innovation within sustainable materials. While exact figures on headcount growth year-over-year are not publicly detailed, their recognition as an EU-wide known startup suggests positive scaling aligned with their market expansion efforts.
Hiring Status and Key Positions
There is no direct public information indicating if LAM'ON is currently hiring or listing specific recent hires. However, given typical startup scaling patterns post-EIC Accelerator funding—especially for companies innovating in materials science—it would be reasonable to infer ongoing recruitment efforts likely focus on roles such as R&D scientists/engineers specialized in bio-materials or process engineers enhancing production capabilities. Such hires would enable them to better scale manufacturing of their bio-based laminates without requiring machinery upgrades owing to product compatibility with standard lines.
Impact of New Team Members on Company Growth
New talent acquisition at LAM'ON would support broader goals including increasing production capacity of both lamination films (LAM’ON) and packaging foils (PACK’ON), improving product development cycles for sustainability credentials (>85% bio-based content with full compostability), expanding market reach into more industries requiring eco-friendly solutions, and streamlining supply chain logistics. This aligns with their mission to reduce plastic waste significantly by replacing laminated paper products that currently end up incinerated or landfilled. Enhanced staffing also supports operational maturity needed for scaling internationally.
Management Changes or Founding Team Updates
Founders Gergana Stancheva and Angela Ivanova remain key figures at LAM'ON since its inception; no public records indicate major changes within the management or founding team post-EIC Accelerator award. Stability at the leadership level often benefits startups during growth phases by maintaining strategic continuity.
Summary
- Current headcount: About 10 employees based in Sofia Bulgaria.
- Growth since EIC Accelerator award: Steady scaling as a recognized EU-wide innovative startup focused on sustainable laminates.
- Hiring status: Not explicitly stated but implied ongoing recruitment likely around R&D & production roles.
- Key positions recently hired: No specifics available; inferred focus on technical roles supporting material innovation & manufacturing scale-up.
- Impact of new hires: Enable product quality improvements, expand production capacity without retooling standard lines; support environmental impact goals.
- Management changes: No known significant changes; founders continue leading.
The new team members will be instrumental for LAM’ON’s future by helping them meet growing demand for eco-friendly materials across multiple industries while maintaining sustainability commitments that differentiate them from traditional plastic foil suppliers.
Sources:
LAM'ON Official Website
Solar Impulse Foundation - LAM’ON Profile
F6S - LAM’ON Startup Profile
7 The Media Features and Publications
LAM'ON: A Bulgarian Innovator in Sustainable Packaging
LAM'ON, a Bulgarian company, has been making strides in the production of biodegradable and compostable laminating films and packaging foils since receiving EIC Accelerator funding in October 2021. The company's innovative products include thermal laminating films named LAM'ON and packaging foils called PACK'ON. These products cater to various uses, such as food, cosmetics, and garments, with a focus on sustainability and environmental friendliness.
Media Features and Publications
Currently, there are limited media features specifically highlighting LAM'ON in major publications. However, their participation in the EIC Accelerator and their focus on sustainable packaging solutions make them notable in the context of environmental innovation.
Podcasts and Interviews
No specific podcasts or interviews featuring the LAM'ON team have been identified. However, their involvement in environmental and innovation-focused events could lead to future appearances in such media formats.
Conference and Fair Visits
LAM'ON's involvement in conferences and fairs is not well-documented in available sources. Given their focus on sustainable packaging, they might participate in environmental or packaging industry events, but specific details are not available.
Involvement in Events
While specific event participation details are not readily available, LAM'ON's acceptance into the EIC Accelerator indicates their potential involvement in innovation and sustainability-focused events. The company's goal to launch its products officially aligns with their participation in such programs.
Conclusion
LAM'ON is a pioneering company in Bulgaria, offering innovative solutions in sustainable packaging. While they may not have extensive media coverage or public appearances yet, their commitment to environmental responsibility positions them well for future recognition in the industry.
Sources: - Speaker's Corner: Featuring Angela Ivanova, Co-Founder, LAM'ON
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