Prague-based Miwa Technologies, a startup that has developed a technology to reduce packaging waste, announced that it has been selected for the European Innovation Council (EIC) “EIC Accelerator” program, securing significant funding for its future growth.
The startup received a subsidy of €2.5M in 2022 to finance the completion of the development of several new features. It has recently secured a €2.7M investment from the Luxembourg EIC Fund.
The company says the funds are earmarked to support its further expansion and the implementation of new installations in supermarkets across Europe.
With this funding, Miwa becomes the only startup from the food reusable packaging segment which has ever succeeded.
Also, it is the first Czech company to have succeeded in so-called blended financing, which combines a subsidy and an investment.
Founded by Petr Báča (CEO) in 2016, Miwa Technologies has developed a unique system that enables customers in supermarkets to shop in reusable containers.
Miwa Technologies says this solution is based on B2B capsules equipped with smart technology that works in tandem with electronic dispensers.
These capsules allow for effective management of the packaging pool and efficient operations of the system, including stock management.
Miwa Technologies’s solution is currently being used by Aldi in the UK, in Dutch Albert Heijn, and in several supermarkets in Czechia and Portugal.
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