88 million tons of food end up in the trash bin every year in Europe, including 10 million in France alone – a loss of €16 billion in consumables, while a third would be enough to feed all those in need, according to ADEME, the French Environment, and Energy Management Agency. French start-up Phenix, created in 2014, wants to put an end to this environmental, social, and economic nonsense. Supported since its inception by Act For Impact by BNP Paribas, its leader Jean Moreau has just announced 15 million euros raised in order to accelerate Phenix’s development and consolidate its presence in Europe. BNP Paribas is participating in this round thanks to the 10 million euro investment of the BNP Paribas Solar Impulse Venture Fund and the BNP Paribas Social Business Impact Fund.
Open to professional investors – institutional investors, large companies, and family offices- the BNP Paribas Solar Impulse Venture Fund aims for a size of €150M to invest primarily in Europe and North America. BNP Paribas has also committed to contributing €75M to the fund.
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