Les Échos Business Newspaper — Industry and Services / Consumer Goods and Retail section · June 4, 2020 · Article from Les Échos
Les Échos reports on Castalie second funding round, in which the company raised 13.5 million euros in the midst of the health crisis. The business daily highlights the strength of the company’s business model: a profitable company since 2019, a founder who retains a majority stake, and revenue growth that is attracting investors. An in-depth look at the economic fundamentals of a key player in the circular economy.
Key takeaways
- In June 2020, Castalie its second funding round, raising 13.5 million euros in the midst of the health crisis, from Amundi, SEB Alliance, Raise Impact, and Ring Capital.
- Thibault Lamarque, founder of Castalie, retained a majority stake in his company following this transaction.
- Castalie a net profit in 2019, a year in which the company installed 1,000 water fountains—as many as it had installed in the previous eight years combined.
- At the time, the company claimed to have just over 2,000 business clients and 700 restaurant clients, citing an economic argument: a subscription-based solution that was marketed as costing half as much per liter as plastic bottles.
- As a player in the circular economy, Castalie replacing disposable bottles with stainless-steel water bottles and glass bottles, in response to France’s annual consumption of 16 billion bottles.
- The proceeds from the fundraising were intended to finance the manufacturing and distribution of the water fountains, the expansion of the maintenance teams, digitally assisted maintenance, and the launch of stainless-steel water bottles made in France.
Source: Les Échos, Industry-Services / Consumer Goods-Retail section, June 4, 2020 — article from Les Échos. Read the original article
