This Amsterdam-based startup aims to be a dating site for excess B2B materials, raises €4.7M

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Amsterdam-based Excess Materials Exchange (EME), a waste management provider and high-impact circular solutions, announced that it has secured $5M (approximately €4.7M) in a Series A funding round led by Wa’ed Ventures.

Wa’ed Ventures is a $500M venture capital fund supported by Aramco. 

It aims to develop a strong startup ecosystem by investing in local tech startups and encouraging global entrepreneurs to bring their technology innovations to the Kingdom.

“We believe in supporting startups that provide effective solutions to shape the future of sustainable infrastructure, and EME’s solutions are a powerful catalyst for promoting sustainable practices among businesses, and we look forward to working with the founding team to localise these solutions in the Kingdom,” says Anas Al-Qahtani, CEO of Wa’ed Ventures.

The Dutch company will use the funds to localise its technologies in Saudi Arabia through its partnership with Waad Ventures and expand into new markets across the region.

Excess Materials Exchange: What you need to know

Led by Christian van Maren, EME was founded in 2017 to provide companies with a platform to track and exchange surplus materials to minimise waste with a focus on high-value reuse and recycling.

The company uses a proprietary technology that combines the Internet of Things (IoT) with artificial intelligence (AI) to provide systems that optimise material flows, reduce carbon emissions, and enhance recycling efficiency.

The company’s platform actively matches supply with demand and identifies materials with the best opportunities for reuse.

By leveraging AI technology, they facilitate the safe exchange of sensitive data through blockchain, fostering innovation in material reuse.

This approach enables companies to enhance their resource resilience, reduce their environmental impact, and improve their profitability by transforming waste into valuable resources.

Christian van Maren says, “Our mission is to help companies launch high-value solutions for their waste and integrate sustainability principles directly into the fabric of their operations. The support from Wa’ed Fund will be of intrinsic value to us as we localise our technologies in the Kingdom, paving the way to create a new era of smart and sustainable systems across the Middle East and beyond.”

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Vigneshwar Ravichandran

Vigneshwar has been a News Reporter at Silicon Canals since 2018. A seasoned technology journalist with almost a decade of experience, he covers the European startup ecosystem, from AI and Web3 to clean energy and health tech. Previously, he was a content producer and consumer product reviewer for leading Indian digital media, including NDTV, GizBot, and FoneArena. He graduated with a Bachelor's degree in Electronics and Instrumentation in Chennai and a Diploma in Broadcasting Journalism in New Delhi.

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