LAM'ON, founded in 2018 by Angela Ivanova and Gergana Stancheva, develops and produces bio-based thermal laminating films and packaging foils as sustainable alternatives to commonly used plastic. In January 2025, the company raised a €500,000 investment round led by Eleven Ventures and joined by Grigoriy Ananiev, Managing Director at Citibank.
AIN had an opportunity to talk with Angela Ivanova, the co-founder of LAM’ON, who told us the story behind the startup and shared key details about their solutions, as well as their impact and future plans.
Images: LAM'ON
What was the inspiration behind creating bio-based and compostable laminating films?
There is a lot of potential and a lot of applications for films that are very transparent and invisible, but are still all around us. I mean, everything is wrapped in something. The inspiration came from being an environmentalist in the first place. I've always been concerned with being respectful and environmentally friendly in my choices.
I worked in printing and pre-press before I started developing this journey with a co-founder of Lamon Gergana. We worked a lot in printing with plastic laminating films, which goes on top of the paper to protect it and make it look better. This is when we decided to search for alternatives, something biodegradable and compostable.
Of course, since Gergana and I come from the industry, we have no scientific background. We had to find a person who specialized in biopolymers. Philip Ublekov, an expert in biopolymers and polymer coextrusion at the Bulgarian Academy of Sciences, joined the company in October 2018. This is when we actually founded the company as such, moving forward with our vision to find replacement for the petroleum-based films surrounding us.
How does your product differ from traditional plastic laminating films?
Once applied to paper, traditional laminating film makes the paper unrecyclable. Thus, you’re wasting resources and creating more microplastic pollution. And Imagine our surprise when we realized that there weren’t any good alternatives on the market.
One such substitute is the oxo-biodegradable film. They are protein-based films mixed with starch. These films can dissolve, but they still leave a lot of microplastics behind. So it's pretty much a pure greenwashing option.
What kinds of businesses use your products? What are the key benefits of using your laminating films for businesses?
Our laminating film still needs a few tweaks before we officially launch it. But we have our two currently being modern.
Our laminating films can be used across multiple industries, including fresh produce packaging, cosmetic wrapping, and shrink wrapping for multi-packs, such as cans, bottles, beers, and other beverages. They can also be widely applied in the apparel and fashion industry.
Additionally, we are expanding into the food market. While our film is already completely food-safe, with no migration risks and bio-based composition, we are in the process of obtaining the necessary certifications for direct food contact. Once our factory is certified as food safe, we will be able to fully present our product for food applications. We expect to complete this process and launch by mid-year.
How do you measure the environmental impact of your products?
There's not enough data when it comes to bioplastics and their impact on the environment because there aren't enough substitutes on the market yet. Nevertheless, we had to look at life cycle assessment and impact assessment, working with other experts in the field.
Our approach to measuring the life cycle assessment (LCA) of our products follows certified industry standards, though direct comparisons can be challenging. Unlike conventional materials that follow a cradle-to-gate or cradle-to-cradle model, our material has a different end-of-life process, requiring a unique evaluation.
Currently, we focus on the recyclability of bioplastics, which are highly recyclable, though national waste streams for them are still underdeveloped across the EU. At present, end-of-life assessments primarily consider compostability—whether the material degrades in soil or undergoes industrial composting, factoring in energy and electricity consumption of the composting process.
As the market evolves and more competitors and partners emerge, we expect to have more precise data within a year, further refining our sustainability metrics.
But so far, we did compare petroleum-based films and different blends of our raw materials. And the measurement is perfectly in our favour, in regards to raw materials delivery and usage, as well as to the energy consumption of our machinery.
LAM'ON production facility
How did you meet your investors? Can you share how long it took to secure their trust?
Our angel investor, Svetozar Georgiev, had been involved in eleven companies in the past year, which was both an advantage and a challenge. Due to a potential conflict of interest, he stepped aside during the due diligence process. The due diligence itself took a few months, but we had already done our homework—we had our patent, certifications, prototypes, and key customers actively testing our product.
To gain investors' trust, we focused on demonstrating the market potential, especially given the growing importance of ESG metrics and evolving regulations like PPWR for bioplastics. With more research emerging across different countries, investors saw the opportunity, and we worked hard to highlight it.
One of their main concerns was funding for marketing, branding, and other key commercialization expenses. This investment allowed us to focus on bootstrapping our sales and go-to-market strategy, ensuring we could execute our plans without the financial strain of overspending. Attending key conferences and exhibitions is crucial for us, and this funding gives us the flexibility to allocate resources where they matter most.
What advice would you give to entrepreneurs looking to raise capital for their sustainability ventures?
I remember at the beginning I was very concerned about keeping all of our equity to ourselves. At some point, I saw and heard about a lot of companies that went bankrupt because they weren't willing to give a fund or someone else the opportunity to come in because they wanted to keep the equity between the founders in the beginning. The thing is, you cannot keep the whole company to yourself.
Don't be afraid to share some equity, because you will gain knowledge from funds and angel investors. These are people with expertise, and you need to be able to benefit from their expertise to move the company forward.
There are many opportunities for public funding through platforms like EIT, EAC, and F6S, which offer smaller grants that can provide initial support. However, these funds are limited and can only sustain you for so long.
Always raise more than you think you need—funding estimates are rarely accurate, and many founders find themselves seeking more capital within months. Instead of holding onto equity and raising small rounds repeatedly, aim for a larger investment upfront. Constant fundraising is time-consuming and can slow growth, while securing enough funding early allows you to focus on execution.
What role can businesses play in promoting sustainable packaging?
Businesses play a crucial role in driving sustainable packaging, as it's the first thing consumers see and interact with. However, cost remains a major factor—most companies prioritize affordability over sustainability.
We are a B2B company, but ultimately, our product ends up in the customer's hands, so it becomes a B2B2C.
Thus, the challenge is twofold: educating end consumers while ensuring businesses see viable, cost-effective alternatives. Many companies are discussing a shift to paper or other materials, but the true environmental impact of different packaging solutions is still not fully measured, creating confusion in the market.
Our responsibility is to offer a practical, scalable alternative that businesses can adopt without disrupting their operations. While not every company is deeply committed to environmental causes, making sustainable options accessible and competitive can drive real change.
What are your plans for the future of LAM'ON? Are you planning to raise any new investments in the near future?
We are committed to scaling up our operations and strengthening our position in the sustainable packaging industry. As demand for our bio-based films grows, our next steps include expanding our production capacity by acquiring additional machinery and optimizing our manufacturing processes.
A key focus for us is to achieve full in-house manufacturing capabilities. This means closing the loop on all finishing processes to ensure greater efficiency, quality control and cost optimization. In addition, we are actively working to expand our reach in key markets, including the EU and the US, as we move forward with our patent protection efforts.
Further strategic investments in technology, infrastructure and market expansion will enable us to better serve our customers in the building and construction, food and packaging, as well as other industries.
Which answers your question - YES, we plan to start raising further capital by the end of the year. But for now, LAM'ON's mission remains the same: to revolutionize the industry with sustainable, compostable films that make a real difference.
