Estonian startup RAIKU has developed a 100% natural packaging material that combines great looks, excellent shock absorption, and the lowest carbon footprint figures on the market. The company has already received an €8.8M deal from the European Innovation Council as a strategic technology and is now entering into collaboration with top global brands to bring its novel material to the market.
This month, RAIKU was accepted into the LVMH Accelerator, which brings together 75 international brands with RAIKU’s packaging material. RAIKU is one of 30 companies chosen from over 1,500 applicants to participate in the program.
Created in 1987, the LVMH Group now encompasses over 75 exceptional Maisons, each known for producing high-quality products, including Louis Vuitton, Christian Dior, and Moët & Chandon, to name a few. RAIKU, aiming to replace single-use plastics and help companies reduce their environmental footprints, is ready to introduce its innovation to the luxury sector.
Karl Pärtel, Co-Founder of RAIKU, stated: “LVMH, the world’s most valuable luxury brand, generating €85 billion annually, has shown interest in our material—this is a clear indication of its enormous potential to transform the packaging market. I highly recommend that startups apply for the LVMH Accelerator, as we’ve seen first-hand how they focus on bridging innovations between their brands and emerging companies. We’re now seriously considering setting up our next factory in France.”
LVHM has already partnered with some alumni of its acceleration arm, adopting smart packaging solutions from startups like LivingPackets and BioFluff. Now RAIKU plans to be another success story of such kind.
“LVMH addresses this with a strategic, comprehensive approach, integrating sustainability across its entire value chain. This includes regenerative agriculture in vineyards, biodiversity protection, and promoting sustainable practices in fashion, cosmetics, and leather goods. Through its LIFE 360 program, LVMH commits to restoring 5 million hectares of wildlife habitats by 2030, balancing resource use with environmental restoration,” says Selma Delic, Sourcing & Listening Manager at LVMH Open Innovation, shared what startups gain from the LVMH accelerator.
RAIKU will participate in LVMH’s Business Accelerator Program Season 10 from July 2024 to July 2025. In addition, RAIKU is raising more capital to build a second factory in France.
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