Behind the Scenes
Brussels-based startup Borro secures first funding round to encourage reusable cups at events
July 17, 2024
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2
min read
Brussels, Belgium – Borro, a Brussels-based startup that has developed an intelligent deposit system for reusable cups, has raised €350,000 in its initial funding round. This investment will help Borro scale its solution further, both within Belgium and internationally.
Borro’s journey has accelerated rapidly. Founded earlier this year by young entrepreneurs Kasper Albers (27) and Glenn Verhaege (29), the startup quickly demonstrated the effectiveness of its technology in a successful pilot at a top-tier Belgian football stadium. The newly secured funding represents a critical milestone in Borro’s growth, addressing the many challenges surrounding reusable cups at large events.
The adoption of reusable cups remains a pressing issue in the event industry. Last summer, Tomorrowland faced a €2 million fine for opting out of reusable cups, highlighting the urgent need for viable solutions. Borro stands out by addressing key challenges for major events: fraud prevention, reduced staffing costs, and an improved visitor experience.
“There's been an incredible amount of discussion about reusable cups in recent years,” says Borro co-founder Kasper Albers. “With Borro, we aim to relieve event organizers of this burden, allowing them to focus on what really matters.”
So, how does it work? Borro’s innovative system links reusable cups directly to consumers’ bank cards. When attendees return their cups to designated smart return points, their deposits are automatically refunded, eliminating fraud, reducing wait times, and ensuring a smooth experience for guests.
The funding round was led by Brussels-based venture capital firm Seeder Fund, with additional support from Imec.istart and a group of private investors. This capital injection positions Borro to expand its technology and bring it to a larger audience across Belgium and beyond.
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