Resourcify, Europe’s digital platform for waste management and recycling, announced the successful closing of its latest €5m funding round. This brings the total raised by the startup to over €9 million. Resourcify’s recycling platform enables companies to digitize and optimize their recycling and open up new revenue streams.
The financing round, led by Ananda Impact Ventures and Speedinvest joins them together with existing investors such as the founders of Sennder and Schüttflix, Innovationsstarter Fonds Hamburg, and the High-Tech Gründerfonds. With the new investment, Resourcify will grow the team up to 50 people, investing strongly into product and engineering and expand its sales and marketing activities to reach new customers.
With the increasing urgency to create a circular economy, Resourcify is disrupting a large and growing EU market expected (BCG for Handelsblatt) to reach €800 billion euros by 2030, by helping companies to replace outdated general contractors and instead, work together with local recyclers and specialist facilities. Waste-producers win much-needed insights into their waste and valuables and can discover optimization potential into sorting and recycling. With this unique solution, Resourcify enables its customers better recycling that decreases costs and can even generate profits by using waste as a precious secondary raw material.
"To reach our climate goals, we need a resource revolution, and a functioning circular economy. By Resourcifying waste management, we can support companies in their net-zero transition – helping them not only to improve recycling and collect more valuables, but also reduce their costs and environmental footprint. All in one easy to use platform", Gary Lewis, CEO and Co-Founder, Resourcify.
Climate protection measures and problems of global supply chains are creating a worldwide market for efficient recycling. According to the 2022 “Circularity Gap Report”, every year we extract more than 100 billion tons of raw materials from the earth. However, only around 8.6 percent of those materials are recycled. Increasing this recycling rate could make a significant contribution to climate protection and solve major problems such as supply bottlenecks.
"For a functioning circular economy, we must also rethink waste management. As impact investors, we believe that with innovative tools, we can achieve major improvements in the direction of Zero Waste. This has led us to invest in Resourcify. Tackling 27 million tons of CO2 emissions per annum in the German manufacturing and service industry alone", Hannah Looks, Investment Managerin, Ananda Impact Ventures.
"Waste is a truly global problem. We now produce over 2 billion tons of it each year and companies are major contributors. Resourcify makes it easier for businesses across all industries to monitor and manage their waste and, in the process, get us closer to a net-zero waste future. We are proud to continue backing Gary, Felix, Pascal, and their stellar team as we double down on investing in the software and companies that are making our world greener", Andreas Schwarzenbrunner, Industrial Tech Partner, Speedinvest.