Fasal Bio Raises $7.6M to Replace Plastics

Jan de Vries · 2026-04-23

A Croatian startup just landed a major investment to help the world ditch plastic for good. Here's what it means for the industry. Zagreb-based Fasal Bio has secured a $7.6 million growth equity investment from BlackPeak Capital. This marks the Bulgarian private equity firm's first direct investment in Croatia. BlackPeak Capital typically invests between $5.4 million and $21.6 million in fast-growing companies across Southeast and Central Europe, and manages two funds totaling around $162 million. ### What Makes Fasal Bio Different? Founded in 2012 by Kresimir Hagljan, Fasal Bio developed Naturion—a proprietary composite material made from wood and renewable natural raw materials. The genius part? It works with existing thermoplastic processing methods like injection molding and extrusion. That means manufacturers can adopt it without building new infrastructure. “Fasal has built something rare, a platform where deep technical capability translates into scalable, real-world products,” said Marko Dabic, Investment Manager at BlackPeak Capital. “This is precisely the type of business where growth capital can make a difference, not just by accelerating it, but enabling a company with genuine innovation to drive change at industrial scale.”  ### From Concept to Shelf—Fast The company integrates proprietary innovation with product design, prototyping, and manufacturing. This lets partners move quickly from concept to shelf—a critical capability as global regulations tighten on conventional plastics and sustainability targets become real business requirements. Fasal's products span multiple categories: - Animal chewables - Children's toys and games - Household goods - Clothes hangers Some of its proprietary brands include D-Bone and FORMIQ. Naturion materials are already used in commercial production for leading international brands across the US and Western Europe.  ### Scaling Up to Meet Demand “We have spent years building the capability to reduce reliance on fossil-based plastics in real world production, not just through innovation, but by making it work at scale,” said Kresimir Hagljan, Founder and CEO of Fasal Bio. “This investment is a turning point for Fasal Bio.” With the fresh capital, the company plans to expand production capacity and invest in commercial and R&D functions. BlackPeak Capital will work closely with Fasal's team to accelerate international growth and extend the reach of the Naturion platform. The company also plans to hire new employees in Zagreb. “We are moving from proving what is possible to scaling it globally,” Hagljan added. “With BlackPeak's support, we are expanding our manufacturing, strengthening our commercial capabilities, and accelerating our mission to enable a new generation of everyday products to be made from renewable materials at scale.” ### What This Means for the Industry Current demand already exceeds production capacity, so the new facility will help Fasal meet existing needs, take on new customers, and expand into its own-branded product lines. For manufacturers looking to reduce their plastic footprint without overhauling their entire production line, Fasal's approach offers a practical, scalable solution. The bottom line: This isn't just another green startup story. It's a sign that renewable materials are ready for prime time—and that investors are betting big on them.