Single-use items are one of the primary causes of pollution on our planet, impacting our vital ecosystems. Copenhagen-based LastObject is taking on a mission to end the need for single-use items to be so prevalent in our everyday lives, and have just picked up €2.7 million to continue the fight.
The funding includes participation from The Footprint Firm, investor Jacob Wolff-Petersen and a follow-up investment from Vækstfonden.
Founded in 2018, LastObject creates sustainable reusable alternatives to single-use items, giving consumers a viable alternative that keeps our planet healthier. In 2019, the eco-driven startup launched the world’s first recyclable cotton swab, LastSwab. Since then, the company has added a number of products to its portfolio so that the responsible consumer can swap their single-use Q-tips, cotton pads, and tissues for reusables.
Kristian Pitzner-Jørgensen, CEO of LastObject: “Our mission is to help people make small changes in their habits towards a more sustainable lifestyle, and to make our products available where consumers shop. We are confident that in five years’ time we can look back on a development in which we have contributed to creating a real decline in the use of disposable products across the globe.”
Whilst the startup has roots in Copenhagen, 80% of its revenue comes from the US, and with fresh capital, the company is further equipped to phase out the use of disposable products. LastObject firmly has its eyes set on bringing the reusable revolution to international heights.
Kristian Pitzner-Jørgensen, CEO of LastObject commented: “Every day, 1.5 million cotton swabs are produced worldwide, and as consumers, we have, so far, not questioned our use of disposable products. But luckily it is about to turn around because more and more people want to do away with the ‘throwaway’ culture.”
With the new investment, LastObject will put pressure on the scaling of their business by increasing sales and marketing activities and developing even more products.
Jakob Mathias Wichmann, co-founder of The Footprint Firm added: “We know LastObject from our consulting work and have been impressed by the team’s great quality and dedication to sustainability. We are therefore proud to be allowed to contribute to their important mission of eliminating disposable products – now also as an investor. We look forward to getting started with the work of scaling the company and helping to ensure that LastObject will continue to be the frontrunner on the sustainability agenda.”
Christian Winther, Partner in Vækstfonden and investment manager for LastObject: “LastObject’s products are an important contribution to the green transition, because the world is in urgent need of sustainable solutions. We would like to help develop them in the Growth Fund. LastObject has great scaling potential, and we look forward to following the international journey they are already well underway.”
via https://www.AiUpNow.com
March 22, 2022 at 08:39AM by contact@bcurdy.com, Khareem Sudlow
