Polish startup Green Lanes secures €425k from JR Holding
17 August, 2022, 14:11
The Lublin-based startup Green Lanes has secured a €425,000 (PLN 2 million) investment in a financing round from JR Holding. The company researches and develops technologies for hemp processing industry, MamStartup reports.
- Founded by Piotr Pietras and Jacek Kramarz, Green Lanes creates projects in the cannabis industry according to the identified business opportunities. They develop the ideas, using the experience of the management team and experts. The company claims that hemp processing is the key to building “green economy”.
- Currently, the startup is developing three projects. The list includes the hemp-based hardwood technology The True Green, as well as the hemp protein extraction Green Lanes Protein. The company also tries to create Hempeat, a hemp-based meat alternative.
- JR Holding led the €425,000 investment round. It is a Krakow-based joint-stock company investing in innovative sector across the CEE region. In April 2022, the fund led the $3 million seed round for Polish fintech Flexee. As a part of the current financing, JRH also acquired 9,9% of the Green Lanes capital.
“The agreement with JRH is an important milestone in the development of Green Lanes. The raised investment is a validation for the chosen Green Lanes strategy of focusing on the field of hemp processing and using its pro-ecological potential,”Piotr Pietras, President at Green Lanes, comments.
- Green Lanes is already preparing for the next investment round in order to accelerate the development and scaling of sales.