Ellex Raidla has advised Superangel on its investment in Ringo Eco. Uplegal advised Ringo Eco.
Ringo Eco raised EUR 500,000 in the first open round of funding. Other companies joining the funding round included Martin Villig, Lauri Meidla, the Goodwill Foundation Impact Fund, as well as six other Estonian private investors.
According to Uplegal, "Ringo Eco will use the investment to launch an Estonian-wide platform for the return of ready-to-eat food packaging this year. Starting this week, the service will be available for restaurants, office buildings, apartment buildings, and private homes in Tallinn and Tartu."
Estonian investment company Superangel invests in early-stage technology companies, focusing on AI & robotics, mobility & logistics, and fintech & SaaS.
Ringo Eco is an Estonian company developing a food packaging reuse system.
"The goal of the Ringo reusable packaging platform is to bring the reuse of food packaging to the masses," Ringo Eco’s Co-Founder Janek Balonski commented. "In recent years, Estonia has tried to introduce several food packaging return systems, but they are focused on smaller areas and make customers' lives rather inconvenient. We plan to launch a system across Estonia that will gradually reach retail chains, gas stations, restaurants, offices, and homes."
The Ellex Raidla team included Counsel Antti Perli and Lawyer Priit Pruks.
The Uplegal team included Partner Maria Klaos.