the nu company announced raising €3.7 million from ForestFinance, Nico Rosberg, Michael Durach and Square One Foods

the nu company, a Leipzig, Germany-based producer of healthy, plastic-free and climate-positive food, announced that it raised funding of €3.7 million ($4.4M).

The money was raised from investors led by existing shareholder ForrestFinance, and including contributions from Square One Foods and German angel investors Michael Durach and Nico Rosberg. ForestFinance Capital GmbH has a 7.5 percent stake and, in addition to the capital, the company receives a shareholder loan.

Proceeds will be used to expand the business, add new products in th eportfolio and promote the project “home-compostable packaging for liquids”.

the nu company, founded in 2016 by CEO Thomas Stoffels, Christian Fenner and Mathias Tholey, is committed to the production of healthy, plastic-free and climate-positive snacks, including nut and chocolate bars and protein shakes. The company not only uses natural, plant-based organic ingredients - free of preservatives, industrial sugar and synthetic flavors - but also relies on packaging made from cellulose film that is compostable.

Since starting, the Nu Company claims that it saved 9.2 tons of plastic packaging and replaced 57.2 tons of sugar. Since 2018, the start-up has been planting a tree for every product sold, roughly six percent of sales.