KORTRIJK, Belgium--(BUSINESS WIRE)--Every year, $320 billion worth of partition walls are thrown out worldwide. JUUNOO, a Belgian startup taking the lead in circular building and construction, completed its Series A Financing round in Europe with a total capital increase of $3.8 million (supplemented by $3.2 million in additional loans and grants). The company now makes its way to the US.
According to the National Renewable Energy Laboratory, building material production accounts for 25% of the total energy and 75% of raw materials consumed by the U.S. manufacturing industry overall. JUUNOO sees both a duty to accelerate sustainability and a clear opportunity to make a difference. By developing partitions that are 100% circular, JUUNOO ensures they can easily be dismantled and rebuilt or, after use, sold back to the company upfront for cash, which are then resold at a profit. Construction companies also benefit because productivity increases with faster installation. JUUNOO’s entire concept–from original product to design potential to buyback–revolutionizes construction and gives architects and builders both an economic and ecological advantage.
New York office launches
Launched in 2017, JUUNOO’s steady growth mirrors booming interest. In 2021, the company succeeded in more than doubling its turnover. Today, the team consists of 24 employees and continues to expand internationally. With its recent capital raise, JUUNOO will continue to bring its pioneering partitions and walls to the Netherlands, Denmark and the United States. By 2024, the Kortrijk-based company plans to be active in six countries. Their NY office opened June first.
Circular business models are the future of the construction sector
Securing backing from large and prestigious European entities gives credence to JUUNOO’s innovative and circular approach to construction. The Series A round is the result of a capital injection by Saint-Gobain Gyproc, Finindus and existing investors.“This capital injection is another step in our company's mission. We want to make circularity the standard in partition walls,” says JUUNOO founder Chris Van de Voorde. The financing round was also supported by Vlaio, Trividend and BNP Paribas Fortis.
JUUNOO’s Founder, Chris Van de Voorde, is currently in the United States to demonstrate to new American investors and partners JUUNOO’s exceptional economic and environmental advantages. Both are key benefits in meeting the looming climate and inflation challenges.
Chris Van de Voorde: “We are driven not only by our unique position to bring an excellent product to market; JUUNOO saves time, money—and helps the environment! But JUUNOO also demonstrates how the construction industry can actively participate in a circular economy and stimulate others to innovate and join in.” The ability to attract notoriously reticent, but high-profile European, investors to the table underscores the opportunity and potential JUUNOO hopes to replicate in the United States.
