This round of financing will enable the company to expand its development and support its innovation strategy and growth.
Paris, France, March 17, 2025, SPRiNG – the French detergents start-up that advocates clean formulas free of controversial ingredients – has closed a €10 million Series B round of financing led by Circular Innovation Fund with the participation of Aglaé, Eutopia and Ring Capital, its historic investors. The investment will enable the company to accelerate its development and expand its conquest of new segments in the fast-transitioning cleaning and hygiene-beauty markets.
Co-founded in 2020 by Philippe Cantet, Laure Favre and Benjamin Guerville to “clean up” the detergent aisle of single-use plastic and promote refillable cleaning solutions, SPRiNG, which is celebrating its 5th anniversary, is claiming 80% sales growth by 2024 and has just seen its sales exceed one million orders.
Stéphane Villecroze, co-founder and managing partner of Demeter: “We are delighted to contribute to the expansion of SPRiNG via the Circular Innovation Fund managed by Demeter and Cycle Capital. Philippe, Laure and Benjamin are talented entrepreneurs who have developed quality products that customers are increasingly looking for. The investment will support the development of new markets and propel the mission of enabling SPRiNG to accelerate the democratization of sustainable cleaning products.”
“We are delighted that CIF, a fund sponsored by L’Oréal, has joined our syndicate of investors – a solid group that brings us the resources and experience essential to SPRiNG’s expansion,” said Philippe Cantet, Chairman of SPRiNG. This financing will more particularly enable us to advance our R&D. Product safety is one of consumers’ top expectations, and it’s also the primary purchasing criterion for SPRiNG’s customers. Strengthening our R&D capacities thanks to this new funding is therefore strategic. It will enable us to continue the fight against single-use plastic and remain at the forefront of scientific advances, particularly about the impact of raw materials. Thanks to these efforts, we can anticipate ongoing reformulations to guarantee healthy and safe products for our customers.”
Antoine Fine, co-founder and managing partner of Eutopia adds: “We are delighted to welcome CIF to this round of financing and to reiterate our support for the SPRiNG teams. The company will now be able to embark on a new phase of growth based on the solid fundamentals it has proven over the last few years.”
SPRiNG has built up a customer base of 200,000 active subscriptions in all French départements, based on the tried-and-tested principle of subscriptions delivered directly to the mailbox. SPRiNG’s products have saved 280 tonnes of single-use plastic and over 2,000 tonnes of carbon thanks to their packaging, the concentration of formulas and the company’s supply chain.
About Circular Innovation Fund
The Circular Innovation Fund (“CIF”) is a global venture capital fund focused solely on circular innovation and sponsored by L’Oréal. It is a joint venture between leading cleantech capital managers Demeter in Paris and Cycle Capital in Montreal. The fund invests in growth companies in North America, Europe and Asia developing innovative bio-based materials, circular packaging, recycling and logistics innovations, as well as enabling technologies (software or hardware) promoting the circular economy. For more information on CIF, visit www.circularinnovationfund.com.
About Eutopia
Eutopia is an investment company managing funds dedicated to emerging brands. Eutopia bases its investment thesis on the transformations in consumer society that have led to the emergence of a new wave of committed brands reinventing and improving everyday products and services around the triptych “good for you, good for society, good for the planet”. With €280 million in assets, the teams support 29 companies, including Oh My Cream!, Nous Anti Gaspi, Tediber and Moderato.
Eutopia is a B Corp company with a mission.
For further information: www.eutopia.vc
About Aglaé Ventures
Aglaé Ventures makes investments in the technology sector. Aglaé is a management company affiliated to Agache (controlling shareholder of the LVMH group) with teams in Paris, London, New York and Los Angeles. The funds managed by Aglaé support fast-growing companies at all stages of their development, mainly marketplaces, software and content platforms. Investment amounts range from €100,000 to €100 million per company. Over the past 20 years, Aglaé and its affiliates have backed some of the most iconic founders in their sectors, including those of Netflix, Slack, Spotify, Airbnb, Automattic, eToro and BackMarket.
About Ring Capital
An ecosystem dedicated to impact investing and a company with a mission, Ring Capital was founded by Geoffroy Bragadir and Nicolas Celier. With a focus on a continuum of impact, Ring Capital finances and supports entrepreneurs and associative entrepreneurs offering vital solutions to major social and environmental challenges.
Ring Capital operates at different stages of development and in different geographies, through four investment strategies and a venture philanthropy fund, Ring Foundation. The Ring Altitude fund is positioned in the growth segment. The other three investment vehicles are venture capital strategies with different geographical and maturity profiles: Ring Mission (Europe, North America; Series A), GENERATIONS powered by EDHEC (Europe; seed stage) and Ring Africa (French-speaking Africa; seed stage to Series A+).