Belgian startup Dripl has raised €2.15 million in growth capital to accelerate their 'refillution.' Since 2021, the company has been offering a healthy alternative to soft drinks through their self-developed Refill Points, helping companies reduce their waste and carbon footprint. The packaging-free soft drink vending machines, which cool, flavor, and carbonate tap water, have already saved over 21.5 million packaging units. The ambition is to save up to 1 billion packaging units by 2030. With the investment from international venture capital fund Faraday Venture Partners, The Source (Spadel Group), and various business angels. Dripl aims to further develop the Refill Points and expand across Europe, in addition to its current markets in Belgium and the Netherlands.
The packaging-free soft drink producer has seen significant growth among more than 200 companies since its founding in 2020. This upward trend is only just the beginning for the Belgian startup. The recent successful completion of the second financing round has raised €2.15 million. This growth capital consists of a combination of investments, venture capital, and convertible loans from international venture capital fund Faraday Venture Partners, The Source (Spadel Group), and current business angels, including Wim Vernaeve (GreenPark Investments), Jonas Mallisse (Founder Too Good To Go Belgium), Stéphane Ronse (CEO Foodbag), Matthias Geeroms, and Lieve Grawet. "We are pleased with the trust in Dripl from various sources. This combined investment gives us the opportunity to further develop our Refill Points, tap into new markets within Europe, and deepen our current markets. We also see great growth potential in the Netherlands. The average Dutch person is actively seeking sustainable alternatives, and the government is playing a significant role in this as well. Take, for example, the measure to ban all disposable packaging in offices. We can see from the demand that many employers want to transition to a healthy work environment and reduce their footprint without compromising on benefits for employees," says Colin Deblonde, co-founder and CEO of Dripl.
François-Xavier Fanard, Managing Director of Faraday VP in Benelux, a Venture Capital firm that invests in early-stage startups since 2011 through its private Investor Clubs (based in Benelux, Germany and Spain) and its Venture Capital fund of more than €36m, adds: "In times when our planet suffocates as a result of pollution and humans experience difficulties to access healthy food and drinks, we are delighted to support Dripl in their mission to make our world both greener and healthier. Thanks to their smartly engineered refill point, Dripl enable corporates to achieve their ESG goals by avoiding single-use packaging and water transportation while providing tasty and healthy natural ingredients-based beverages to their employees. Armed with an insatiable will for sustainability, an expert team and a smooth customer/user experience, we are convinced that Dripl will make an everlasting impact." Faraday has a 12-year track record investing in high-potential innovative early-stage startups via its network of private investors’ Clubs (250+ Partners) and its own Venture Capital fund (Faraday Europa I - €36+M). So far, Faraday has invested in 47 startups and achieved 6 exits.
In the Netherlands, we consume an average of 1.4 billion liters of soft drinks per year, resulting in 930 million plastic bottles and 2 billion cans of waste. To reduce this waste and promote healthy consumption, Dripl encourages companies to join their ‘Refillution.’ Dripl revolutionizes the production chain of flavored water and soft drinks by eliminating the need for bottles and unnecessary water transportation. Through the Refill Points, tap water is transformed into a worthy low-sugar alternative to soft drinks using natural ingredients and carbonation. The use of Refill Points has already saved over 2.5 million packaging units, and Dripl aims to save up to 1 billion packaging units by 2030.
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